GEN News: Australia Boosts Bioprocessing with Government Grants
An article published yesterday by Genetic Engineering & Biotechnology News (GEN) placed Smart MCs in the spotlight as a key Australian player in the bioprocessing sphere. The article features an exclusive interview with Smart MCs CEO Payar Radfar, discussing the company’s achievement securing a major government grant for an automated production line. Industry news outlets in the field of science reporting on such company achievements often provide much needed exposure to growing companies looking to expand their influence.
In Sydney, Australia, Smart MCs is using a $600,000 government grant to build and automate a production line for biodegradable microcarriers, basically small spheres that adherent cells can grow on in a bioreactor. Payar Radfar, PhD, CEO at the company, says the Australian government’s Accelerating Commercialization Grant “is about taking your proven concept to the next level of commercialisation.”
Many companies struggle with that step. “Often the issue is filling the gap of a decent production capacity before you can attract major customers, and I believe that’s what this grant is enabling us to do,” Radfar says.
Based on experience with financial support from government grants and venture capital, Radfar adds, “While each comes with its own benefits, government grants in my view are about far more than just the funding.” With the Accelerating Commercialization Grant, he continues, “there is tremendous support to commercialize the product.”