Business
Grant Approval
Grant Approval.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n Seeing Machines Limited\n14 August 2006\n\n14 August 2006\n\n\n\n SEEING MACHINES LIMITED\n ('Seeing Machines' or 'the Company')\n\n\n AUSTRALIAN GOVERNMENT APPROVES GRANT APPLICATION\n\n\nSeeing Machines Limited (AIM: SEE), a leading developer of advanced computer\nbased imaging software systems, has been advised by AusIndustry that its\napplication for an Australian Federal Government Commercial Ready Grant\nsupporting its glaucoma diagnostic device development project has been approved,\nconditional on finalising normal contractual arrangements. The grant provides\nmatching funding of up to AUD$2.1 million over 2 years to support the continued\ndevelopment and commercialization of the glaucoma device.\n\n\n\nSeeing Machines' glaucoma device is a non-contact objective device designed to\nreliably and quickly measure a person's functional visual field. Assessing\nvisual field is crucial in diagnosing a range of human visual system diseases,\nsuch as glaucoma. The key advantages the Seeing Machines device has over those\navailable on the market today are derived from the objectivity of the technique.\nIt is non-contact, fast and greatly enhances the patient experience.\n\n\n\nSeeing Machines completed an initial research and development project for the\ndevice in February 2006 and this work was supported by a $250,000 AusIndustry\nBiotechnology Innovation Fund Grant. The company has successfully completed\n(June 2006) a $3.2 million R&D Start Grant project aimed at developing Seeing\nMachines' face and eye tracking technology to a level where deployment in the\nautomotive domain for the detection of fatigue and distraction is feasible.\n\n\n\nSeeing Machines CEO Nick Cerneaz said: 'the Company was very pleased to be\nawarded the Commercial Ready Grant. The strong endorsement of our technology, R\n&D capabilities and the potential for successful commercialisation of this\ndevice is very encouraging.' He also commented on the importance of government\nprograms supporting innovation for local industry development and noted the\nstrong support the company had received over the years for its R&D both from\nCommonwealth and local government programs.\n\n\n\nFederal Industry Minister Ian Macfarlane congratulated Seeing Machines on being\noffered the Australian Government Commercial Ready grant to develop the device\nthat...