A South Australian business is set to revolutionise wine consumption after developing an innovative screw cap that can manually add a flavour or reduce preservatives.
Vinnovate – founded by Barossa Valley brothers Joshua and Simon Schmidt – has received funding under the State Government’s new South Australian Early Commercialisation Fund.
The brothers will use the funding to springboard further development of intellectual property and commercialise their VinoCap product with the hope of attracting new customers locally and nationally.
The innovation will add a new level of creativity for winemakers and will also push the boundaries of what is possible in the wine industry and for the consumer.
Other recipients recently awarded funding under the first round of the South Australian Early Commercialisation Fund include:
– TC PinPoint – a cloud-based project management tool for the delivery of retail tenancies
– Rappsio – simplifying software development processes to easily and efficiently build web applications
– First Frontier – developing a novel automated asbestos analysis system for laboratories.
Manufacturing and Innovation Minister Kyam Maher said companies like Vinnovate are combining their technical skills with new ideas to establish our state as the home of innovation in Australia, which will ultimately deliver economic benefits and create jobs.
South Australia leads the way when it comes to the extent of support programs available for entrepreneurs to help grow their businesses.
This Early Commercialisation Fund will add to Adelaide’s opportunity-rich environment to help businesses commercialise their ideas and tell their success stories to the world.
Administered by TechInSA, the South Australian Early Commercialisation Fund is a new State Government competitive application funding program to help entrepreneurs and businesses accelerate the commercialisation of ideas and services from proof of concept through to product development and early commercialisation.
Eligible applicants may receive grants totalling $500,000
The new fund forms part of the South Australian Government’s 2016 State Budget announcement, which allocated almost $80 million to build upon existing and new programs for innovation including the $50 million South Australian Venture Capital Fund.
For more information or to submit expressions of interest, see the South Australian Early Commercialisation Fund.