Local firms to benefit from COMET funds

FIVE innovative Western Australian organisations have received federal government funding grants since the start of the year to assist with the commercialisation of their respective technologies.

The latest WA companies to share in the Commonwealth's Commercialising Emerging Technologies (COMET) program include iNnerline Pipe, Faulker Lab and Occoculture, which each received $64,000 to market their products.

iNnerline Pipe received its COMET grant in March to commercialise a technology that produces a protective internal lining for pipes using a unique extrusion process.

Faulker Lab received $64,000 in March for its specially designed media planning software called Mediakindle, which can be used for forecasting sales figures from advertising activities.

Mediakindle, launched in Fremantle in May, uses simulation technologies to predict return on investment in communications campaigns, helping companies reduce the cost of their customer acquisition and retention efforts.

Faulkner Lab marketing director, Peter Faulkner said Mediakindle outstripped existing media planning models by taking in more aspects of the new media and consumer landscape, including online and word-of-mouth.

In March, Occoculture received its grant to assist in further developing an octopus aquaculture grow-out facility.

Engineered Bucket Solutions, developer of innovative excavator buckets for use in industrial practices, and Rivermiss, an email and productivity management tool, also featured among the federal handouts this year.

Innovation, Industry, Science and Research Minister Kim Carr announced 38 of the latest COMET grants this week.

"With COMET, we are helping great Australian innovations gain a foothold in the marketplace, boosting the economy and supporting high-wage, high-skill jobs." Senator Carr said in a statement.