The BRII RegTech round provides grants to small and medium enterprises (SMEs). SMEs develop solutions to challenges submitted by Australian Government agencies. Solutions streamline or enhance compliance for businesses or individuals, and administration for government.
Four government agencies submitted BRII RegTech challenges for this round. Each focused on reducing the regulatory burden or compliance costs on Australian businesses:
- Using technology for real-time and accurate asbestos testing (Asbestos Safety and Eradication Agency).
- Using technology for a streamlined path to marine autonomous systems assurance (Australian Institute of Marine Science).
- Using technology to help identify and assess poor market disclosure by listed companies (Australian Securities Investment Commission).
- Using technology for remote and automated monitoring of export livestock health and welfare (Department of Agriculture, Forestry and Fisheries - formerly the Department of Agriculture, Water and the Environment).
Two SMEs were successful in their application to develop technologies for real time and accurate asbestos testing. The other 3 SMEs were successful for each of their challenges.
Successful grant recipients
- $999,690 for Flawless Photonics Pty Ltd (Using technology for real-time and accurate asbestos testing)
- $1,000,000 for PAG R&D Pty Ltd (Using technology for real-time and accurate asbestos testing)
- $1,000,000 for Thaum Pty Ltd (Using technology for a streamlined path to marine autonomous systems assurance)
- $999,650 for Eastern Analytica Pty Ltd trading as DHI-AI (Using technology to help identify and assess poor market disclosure by listed companies)
- $1,000,000 for Round Pixel Pty Ltd (Using technology for remote and automated monitoring of export livestock health and welfare).
View full details of the latest BRII Reg tech grant round on business.gov.au.
Grant recipients will use funding to develop a prototype of their new technologies. Each SME has 15 months to complete their prototype or proof of concept and consider how they could scale up and broaden their application.
Following this, government agencies have the opportunity to buy the solution. SMEs can also look for further commercial opportunities for their products.