Perth-based technology company HarvestRoad Ltd has been offered $1.4 million under the AusIndustry Commercial Ready Grant program to support the development and commercialisation of its digital publishing system for electronic performance systems.
Perth-based technology company HarvestRoad Ltd has been offered $1.4 million under the AusIndustry Commercial Ready Grant program to support the development and commercialisation of its digital publishing system for electronic performance systems support for the defence and aerospace industries.
As at 1200 WST, shares in HarvestRoad were up .5 cents to 16 cents.
In January, HarvestRoad announced its HarvestRoad Hive system had been selected by US buying consortium MiCTA.
The HarvestRoad Hive system, an online educational database, was selected following a highly competitive panel tender process.
Below is the full announcement:
Technology company HarvestRoad (ASX:HRD) is pleased to announce it has been offered $1.4m under the AusIndustry Commercial Ready Grant program to support the development and commercialisation of its digital publishing system for electronic performance systems support (DPS-EPSS) for the defence and aerospace industries.
DPS-EPSS will be a fully integrated common solution for the generation, management and production of technical manual content and training instructions required across multiple platforms or systems in the Defence and Aerospace industries. Fully compliant with the mandated defence standards - SCORM and S1000D - governing the production of structured learning and training materials, the DPS-EPSS supports the `write once, use many times' ethos. The solution will increase system safety and reduce project costs by rapidly improving the timeliness, integrity and durability of learning and training source material.
"HarvestRoad is delighted to receive this boost to its R&D for the commercialisation of its DPS-EPSS," commented HarvestRoad CEO Mr Grame Barty. "Organisations using our technology will be able to seamlessly integrate publishing and training materials into a single, centrally located repository with flexible, browser-based access and share content across projects.
Receiving this offer is a clear recognition (on the part of the Australian Government) of the global commercial value of our solution," he added.
Federal Industry Minister Ian Macfarlane congratulated HarvestRoad on being offered an Australian Government Commercial Ready grant. "The HarvestRoad technology has clear potential for learning and training in the defence and aerospace industries. It is designed to safeguard data consistency, overcome costly and unsafe duplication processes and be accessible to all members of defence communities anywhere, anytime.
The Australian Government, through our Commercial Ready program, is pleased to support innovative companies like HarvestRoad develop innovative technology and bring it to the marketplace."
The Australian Government's Commercial Ready program is a competitive merit-based grant program which supports innovation and its commercialisation by supporting research and development, proof of concept and early stage commercialisation activities. Successful applicants are selected following a thorough technical review by the Commercial Ready Industry Research and Development (IR&D) Board. The evaluation criteria utilised by the IR&D Board to assess such applications include: the commercial potential of the project, the technical strength of the project, the Company's intellectual property position, management capability and the national benefits of the project.
