Singapore: Universal Biosensors, developer of cardiac marker biosensor, is one-of-the-seven firms to receive Technology Implementation Vouchers totalling $250,000.

Mr Gordon Rich-Phillips, Australian Technology Minister, said that the funding will allow the seven companies to explore the use of industrial biotechnology, small technologies or information and communication technologies (ICT) as part of the Victorian Coalition Government's $9 million Technology Voucher Program.

"Through these vouchers, the Coalition Government is supporting businesses to collaborate with suppliers in order to develop, adapt or adopt industrial biotechnology, small technologies and advanced ICT-based innovations for new practice or new markets," Mr Rich-Phillips said.

"Victoria has world-leading capabilities and expertise when it comes to technologies and these vouchers will go a long way to supporting companies to access these facilities, goods, services advice or expertise," Mr Rich-Philips said.

Mr Rich-Phillips said that the Technology Voucher Program provides funding to help innovative companies connect with high-tech service providers and absorb new technologies to improve their productivity and competitiveness.