Researchers in Business scheme in action

A West Australian renewable energy company has become the first organisation to benefit from the Australian government's $10 million Researchers in Business program.

Launched earlier this year by the Innovation Minister, Senator Kim Carr, the program, part of the government's $271 million Enterprise Connect initiative, maximises the benefits of research to business by encouraging direct collaboration between business and the research sector.

Funding is provided to small and medium-sized businesses to employ a researcher for up to 12 months to develop new commercial ideas.

Canning Vale-based company Regen Power will use $50,000 from the program to employ a mechanical engineering masters student from Curtin University to work on a project which uses wind turbine energy to power telecommunications towers in remote areas.

Carr said the Regen project encapsulates the government's vision for the future of Australian industry.

"Building a culture of innovation in Australian industry begins in universities and other technical institutions," Carr said.

"Commercialising the ideas developed in these institutions — converting them into accessible and profitable business mechanisms is the next vital step in the innovation process.

"Regen's project will take advantage of innovative research to improve its bottom line, whilst at the same time developing green technology.

"Researchers in Business is the collaborative link that gives a new generation of researchers a chance to use their knowledge to help business grow in innovative and sustainable ways, and gain hands-on experience of the business environment."