SA grants $1.5m to Presagen to bring AI to IVF
The South Australian Government has agreed to provide $1.5 million in funding to local medical diagnostics software company Presagen to commercialise its AI-powered IVF software solution, Life Whisperer.
The funding will be provided as part of the state government’s $28 million Research, Commercialisation and Startup Fund.
Presagen will use the funding, which has been matched by private investment, to commercialise Life Whisperer, which uses AI to identify healthy embryos for use in IVF to improve pregnancy outcomes.
South Australia’s Chief Entrepreneur, Jim Whalley, said the funding will be used to support product development, regulatory approvals, sales and expansion to international markets.
“With a potential $700 million in commercial opportunity for this company, this will create highly skilled jobs for South Australians and will further enhance the state’s capability and reputation in artificial intelligence and software development,” he said.
South Australia Minister for Innovation and Skills David Pisoni said the fund has been designed to support the state’s R&D capability, advance scientific research and help entrepreneurs commercialise their innovative products globally. The scale-up stream is continuously open to applications.
“Successful companies will refund the government investment and keep their intellectual property in South Australia,” he said.
“Presagen has successfully applied for funding which supports entrepreneurs to start and grow innovative early-stage businesses, and also encourages more investment in South Australia.”
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