(Angus Forster) The R & D Tax Incentive is massively important
for R & D in Australia.
It enables companies to take risks and perform experiments
where the outcome of that work is uncertain.
Vaxxas is trying to transform delivery of vaccines
by developing a needle free vaccine technology.
It’s a small patch containing a dense array of little micro projections
which are coated in vaccine.
The product will improve vaccination access around the world.
(Murray Height) HeiQ is a business focussed on
the global textile industry.
One of the key challenges that we see is how we can support
this need of humanity for textiles but to be able to build textiles
cleaner with less impact on the environment.
(Peter Meek) Chobani is a relatively new company.
We started ten years ago in the U.S.
but the Australian story started about eight years ago
and we’re on a mission to deliver better food for more people.
(Richard Payne) RayGen is an Australian business that’s developed
a unique technology that enables renewable energy
to be dispatched on demand at very low cost.
No one else in the world does what we have achieved.
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(Angus Forster) It was an early idea that needed to be transformed
into a commercial reality and to do that requires
a considerable research and development effort
across all areas of the technology.
So, the R & D Tax Incentive has helped to build that data
that we can take to partners to encourage further investment
into our company and open up more chances for collaboration
with large pharma companies but also with universities
and philanthropic organisations around the world.
(Peter Meek) When we first started manufacturing Chobani in Australia
we assumed that it would be very similar to the product from the U.S.A.
because we were using the same cultures, we were using the same milk
but the profile of the milk here is quite different.
So we actually had to do a lot of work up front to understand that
and the R & D Tax Incentive helped enable that.
(Murray Height) So, the R & D Tax Incentive is a key enabler
for us to do research.
The short polymer fibre technology was invented here at Deakin University.
We’ve partnered to take that really from a lab level and an idea level
to build that up in a way that could be scaled up
and actually used in products around the world.
[Music plays]
(Dr John Lasich) We’ve had to do a lot of innovation
and that means a lot of cost involved to develop the new product
and to actually prove that to a point where you know it’s working.
(Dr John Lasich) The really important thing about the R & D Tax Incentive
is that it’s helped provide a catalyst to get private equity in
to support our R & D activities.
[Music plays]
(Peter Meek) R & D promotes growth.
We’re now buying literally 80 million litres of milk
which is benefiting all of our local farmers and pretty much
the vast majority of our, you know supply of all of our ingredients
is now local.
So, that’s a direct benefit to jobs in terms of food, manufacturing
but also packaging producers.
(Murray Height) A lot of our innovation activity is actually
conducted here in Australia.
The key reason for that is that we have this mechanism
of collaboration with Deakin University and this collaboration
supported by the R & D Tax Incentive allows us to focus more problems
that are relevant to the global textile market.
(Alessandra Sutti) The R & D Tax Incentive is a catalyst
for collaboration.
It provides industry with a safety net to manage risk
of investing in research and it provides academics
with an easier path to engage with industry
and diversify our research and as well as our impact.
[Music plays]
(Dr John Lasich) The R & D Tax Incentive has enabled us
to do most of our research right here in Australia.
So, it has allowed us to hire those specialist people
that has brought our product to a new level.
Without those people we wouldn’t be able to do this.
(Peter Meek) There is a direct link between the R & D work that we do
around our product qualities and our ability to attract great people
to our business because they see what we’re doing
and they want to be part of it.
(Richard Payne) The R & D Tax Incentive has been
absolutely fundamental to the success of our business.
So without it we certainly would not be here where we are today.
[Music plays]
(Narrator) For more information about the
Research and Development Tax Incentive go to business.gov.au/rdti.
[Music plays]