Batteries, robots and software scaleups receive first IGP grants

First group of scaleups The Albanian government’s flagship innovation program has been announced, with $7.4 million in grants to be divided between five companies.

Local companies have received grants to commercialize batteries, precision fermentation, radiotherapy treatments, software and robotics, hoping to one day scale up into the largest government support package for the industry.

The companies are the first participants in the $392 million Industrial Growth Program (IGP), funded in last year’s federal budget, Industry Minister Ed Husic announced in Melbourne on Friday.

The new program replaces the government’s previous Entrepreneurship Program, which offered similar grants and innovation advice to startups and scaleups.

However, it is presented as a strategic effort, supported by related research programmes and the Albanian government’s $15 billion National Reconstruction Fund (NRF) earmarked for mature enterprises.

“Today is a milestone because now innovative small businesses can feel the influx of support that will help them grow into larger enterprises,” Mr. Husic said.

“The Albanian government has established IGP to work with the NRF to put SMEs on a solid growth path. This is an important way to develop our production capabilities while using the most modern ideas from younger companies.”

The largest grant went to Cauldron Molecules, a Main Sequence-backed precision fermentation company based near Orange, which received $4.3 million to commercialize its automated hyperfermentation technology for food, animal feed, fiber and fuel.

Lithium-sulfur battery maker Li-S Energy has received a $1.7 million grant to boost production of the technology, which is used in the maintenance-free aerospace and defense industries.

“With the support of the IGP Grant, we are able to build Australia’s first lithium metal foil production line. Essential to advanced batteries, including our own, and adding value to Australia’s vast lithium reserves, the global lithium foil market is poised for massive growth in the years to come,” said Li-S Energy CEO Dr Lee Finniear.

IGP grants are awarded from two streams. Early-stage commercialization grants provide matched grant funding ranging from $50,000 to $250,000 to build commercial viability of an innovative product, process, or service. Larger matched funding ranging from $100,000 to $5 million from the commercialization and growth stream is reserved for introducing innovations to domestic and international markets.

The first five winners are:

Applicant	Project Title	Grant stream	Subsidy amount (excluding GST)
Boiler particles	Precision fermentation in a 10kl boiler Object: Unlocking the TRL4-8 industry	Grants for commercialization and development	$4,277,616
Li-S Energy	Sovereign capacity in high-tolerance lithium foil for next-generation batteries	Grants for commercialization and development	$1,667,096
Brand Safety	Unphish: Addressing Multi-Channel Threats with Unified and Automated Reporting	Grants for commercialization and development	$231,000
Electrogenic Laboratories	Electrogenics MOSkin (TM) – an innovative radiological dosimeter for patients	Grants for commercialization and development	$1,046,160
Collection automation	Blueberry Picking Robot: MVP Development	Grants for early commercialization phase	$157,943

The companies were selected to apply for the grants, which opened in May based on feedback from innovation experts, and will also have access to a support network of individuals and industry partners.

Consulting and administrative costs will consume more than 25 percent of the $392 million Industrial Development Program budget, resulting in $105 million less available for early-stage commercialization grants.

The programme fills a funding gap for early-stage businesses after the new Albanian government abolished the Entrepreneurs Programme in 2022 to help meet its own commitments.

Established research programs continue to distribute grants, and dedicated commercialization grants are up and running. However, the NRF’s $15 billion for established companies to launch transformational projects has not yet invested for the first time.

Do you know more? Contact James Riley by email.