A further $6.9 million has been allocated to five successful applicants through the federal Industry Growth Program (IGP), including several developing technologies to support the Australian food system. The latest round includes Bioborne, C Sea Solutions, Seascape Restorations Australia, and Levur.
Innovative SMEs and startups play a crucial role in the economy, but many have difficulty bringing their ideas to market. The IGP aims to support eligible SMEs in their most challenging development phase through tailored advisory services, followed by an opportunity for matched funding grants.
Launched in November 2023, the IGP program has dispensed $177.3 million of the proposed $392 million, shared amongst 116 companies to date, supporting projects which “align to Australian Government priority areas for the National Reconstruction Fund and help build Australian manufacturing capability for the future.”
https://www.foodanddrinkbusiness.com.au/news/industry-growth-program-open-for-business
The latest round included:
- Bioborne – $2,267,343 to scale its closed-loop microalgae production that uses artificial intelligence. After trials, they aim to produce a new range of bio-fertilisers that will help increase crop yields.
- C Sea Solutions – $2,107,300 to help scale production of Uluu. This sustainable seaweed product is an alternative to plastic packaging. The grant will support the company to complete trials, gain certification and commercialise its product.
- Seascape Restorations Australia (trading as Immersion Group) – $750,000 to build a patented photobioreactor system for cultivating a native seaweed that can reduce methane gas. The project will include two new patent applications and prove feasibility of the modular system.
- Levur – $250,000 to continue developing its precision fermentation process to produce sustainable palm oil derivatives for use in cosmetics, nutraceuticals and food.
Previous food industry recipients have included hyper-fermentation biomanufacturing start-up, Cauldron Ferm, which received $4,277,616 in the very first round, announced in August 2024. One of the largest grants to date, it supported the construction of a new 10kl precision fermentation facility. Cultured meat start-up, Magic Valley, also received $100,000 through the program in February 2025, to support the scaling up of its production capacity and refining processes to prepare for commercialisation.
Seascape Restorations Australia isn’t the first methane-reducing company to land an IGP grant. Provectus Algae received $4 million last August to construct a new 160,000 litre Asparagopsis production facility and facilitate the optimisation of cultivation processes, to lower production costs of the company’s Surf’N’Turf, a methane reducing livestock feed supplement. Western Australian marine science solutions company, SeaStock, also landed $136,000 last January for an Asparagopsis growth facility feasibility study.
Businesses can apply for the IGP at any time, with more information available at business.gov.au.
