Source: SA Government News Release, 23rd July 2013
A $35,000 grant under the State Government’s Innovation Vouchers Program will help SMR Technologies diversify its manufacturing capabilities and encourage greater innovation within the manufacturing sector.
Manufacturing, Innovation and Trade Minister, Tom Kenyon said the Innovation Voucher Program was one of several key programs to be delivered as part of the State Government’s manufacturing strategy, Manufacturing Works.
“The program connects research and development organisations like SMR Technologies with local small to medium enterprises to solve technical problems and to encourage greater innovation within the manufacturing sector,” Mr Kenyon said.
“SMR will use its grant to develop and manufacture an electronic infusion pump to administer intravenous medications and treatments at home.
“SMR will work with CPIE Pharmacy Services, a South Australian owned and operated company that produces intravenous medications, to develop the technology which has an estimated global market value of $6 billion,” Mr Kenyon said.
“This partnership, facilitated by the Innovation Voucher, will produce a number of benefits for the State.
“CPIE will be better placed to compete with multinational companies which are competing hard for a share of the South Australian and national markets,” Mr Kenyon said.
“This will lead to economic benefits through increased export potential, as well as greater employment opportunities at CPIE and SMR.
“A significant benefit of this partnership will be the local production of the device, which relies on SMR’s expertise in engineering design and skills in innovative manufacturing.
“SMR has been a leader in South Australian manufacturing for more than 25 years.
“We hope that this diversification will help SMR expand its high-value, advanced manufacturing, which the State Government has identified as the future of manufacturing in South Australia,” Mr Kenyon said.
SMR Sales and Marketing Director Sam Vial said SMR Technologies recognises the importance of a diversification strategy, and has been working closely with education institutions and industry bodies over a number of years to find and develop advanced manufacturing opportunities.
“In this specific case, we are excited to be working with CPIE Pharmacy Services in the development of their product innovation,” Mr Vial said.
“The IVP has provided the integral financial support to allow CPIE to utilise our depth of experience in product design and manufacture and for SMR Technologies to continue to expand its capability,” he said.
The Innovation Voucher Program is a joint initiative of the Department for Manufacturing, Innovation, Trade, Resources and Energy and the Department of Further Education, Employment, Science and Technology.