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Since its first round in April/May 2015, the scheme has supported 102 projects with grants worth more than $54 million.

Examples in the latest announcement include Melbourne-based Semitech Semiconductor which develops product solutions that enable the transformation of the electricity grid into a smart grid. The company was offered $1 million, the maximum assistance available under the Accelerating Commercialisation scheme, to support the marketing of its single-chip microcontroller for solar inverters and other SmartGrid applications.

The company says on its website that such controllers are key to more efficient energy generation and usage, but that their adoption has been slow primarily due to cost concerns.

These costs could reduce significantly with the company's single-chip micro-inverter, as it provides a complete platform to implement all of the functions in both the control and the communication paths.

The latest announcement also included $780,000 for Amaero Engineering, which is commercialising research from Monash University in the field of metal 3D printing or metal additive manufacturing.

The company is producing components for use in aerospace and defence markets, and together with Monash University exhibited the world's first jet engine produced by metal additive manufacturing at the Avalon Airshow in 2015.

Another example is a $800,000 grant offered to Bluedot Innovation.

The Adelaide-based startup is working on the next generation of location-based services, a market projected to grow to $39 billion by 2019. The company has developed a high-precision technology which can be used by mobile apps to trigger certain actions - for example opening a store website on a smartphone - when a user is crossing a defined location.

Successful project in the December 2015 announcement further include:

• NewSouth Innovations Pty Ltd was offered $250,000 for the advanced manufacturing of reliable cheap high efficiency silicon solar cells;
• Kinetic Elements Pty Ltd was offered $1,000,000 for the direct manufacturing of textured titanium rolls for the printing industry;
• FloLevel Technologies Pty Ltd was offered $589,304 for the FloLevel level sensing and analysis technology for minerals processing;
• Resolution Systems Pty Ltd offered $687,170 for MaxMine: Enabling Lean Mining within the haul fleets of the global mining sector;
• Curtin University of Technology was offered $147,495 a project leading to an improved carbon measurement and management for the gold industry;
• Cohort Solutions Pty Ltd was offered $485,000 for its Cohortflow product for managing recruiting in the global international education sector;
• Royal Melbourne Institute of Technology was offered $243,111 for its Human Gas Monitoring Capsule, a novel diagnostic device;
• Vector International Pacific Pty Ltd was offered $500,000 for a real-time, cloud based, data management platform;
• Glass Terra Pty Ltd was offered $250,000 for its Glass Terra geospatial software;
• Plan2Profit Agri Pty Ltd was offered $252,549 for a software and training platform called P2PAgri for the agribusiness sector;
• Etrain Interactive Pty Ltd was offered $398,781 for cost effective 3D training simulations;
• MiCare Global Pty Ltd was offered $199,800 for an intelligent and networkable communications portal and compliance platform;
• Change Studio Pty Ltd was offered $133,400 for Ralleo, an enterprise change management software; and
• Jemsoft Pty Ltd was offered $69,316 for Monocular API, a product focussed on the prevention of crime through the use of artificial intelligence and computer vision.