An entrepreneurial business in Dubbo has received encouragement and funding from the federal government in the form of a dollar-for-dollar grant of almost $1 million.
Maverick Biomaterials Pty Ltd is one of only 18 “innovative Australian businesses” to get a share of the $10.6 million in the Accelerating Commercialisation division of the $484.2 million Entrepreneurs’ Infrastructure Program.
The business has been sending biomaterials to overseas manufacturers that are developing percutaneous cardiovascular devices for humans.
Impending clinical trials have factored into Maverick Biomaterials’ need to build new facilities as part of a move from Wheelers Lane to Mountbatten Drive.
“We’ll be building a clean room in Mountbatten Drive for the manufacturing of these materials to support our clients in obtaining appropriate regulatory approvals to then take their product to market,” said Cameron Crowley, co-owner of the business.
He said Maverick Biomaterials had opted for “cautious and staged” investment as its clients trod “the pathway to approval” of the new-generation devices that support patients too frail for traditional surgery.
The $987,5000 grant provided a “move to the next stage” and the assurance of government confidence in the direction being taken by the business, the businessman said.
“The grant shows the government is as confident as we are that we can continue to service our clients to attain the appropriate approvals and have a long-standing supply business well into the future,” Mr Crowley said.
The receipt of the grant has prompted the businessman to acknowledge the “significant” contribution of past and present staff members to the “incremental and consistent progress” of Maverick Biomaterials since 2003.
Its “specialised” workforce is set to grow in numbers and ability when the clean room is operational in 2016 and sterile filtration of processing solutions begins the following year.
“Part of the government funding is also about having access to people with greater experience in the field so we can target being world class in this space,” Mr Crowley said. The “proud employer and exporter” is passionate about contributing to his community and regional business.
“To do this sort of thing from regional Australia is an absolute screaming hoot,” he said.
Mr Coulton said Australia needed to “turn great ideas into commercial products to keep up with global markets”.
“Accelerating Commercialisation will drive business growth and competitiveness and achieve nationwide economic benefits by helping to ensure that more of Australia’s wealth of intellectual property is effectively commercialised, including our brightest ideas from businesses based here in Dubbo,” he said.
This post first appeared in Daily Liberal.