Valorem secures government grant

Valorem Systems has received a federal government grant to assist in the commercialisation of its web-based Praxeo system.

The grant was awarded under the Commercialising Emerging Technology (COMET) program, administered by the Department of Industry, Tourism and Resources.

It is designed to assist small to medium businesses commercialise innovative technology-based products, processes and services.

Valorem will use the funding for market research, intellectual property strategies and the establishment of key pilot reference sites. Under the terms of the 80/20 matching grant, the government will provide 80% of the project funding, and Valorem the remaining 20%.

Mirvac recently selected Praxeo to monitor and report on the activities of contractors in its industrial sites, office buildings and shopping centres throughout Australia.

CEO at Valorem Systems, Jon Tinberg said the grant would enable the company to develop the market for Praxeo by funding pilot programs at various suites and documenting their success through case studies.