Thursday 29 April 2010

Larissa Bright Australia – commercialisation through research collaboration

Larissa Bright Australia was founded in 1998 when the founder moved to Northern Queensland and sought to create a range of plant-derived luxury skin and body care products to meet her needs.  The company has grown now to distribute across Australia and also export Australian-made products throughout New Zealand , Korea , Brunei and Norway .

To create new and effective products for their market, Larissa Bright Australia is continually searching for new, natural, healthy additives to use in new products.

Through the Queensland TechFast program, the AIC has assisted the Townsville-based company’s search for a research organisation as a partner to identify new product development opportunities. The AIC’s TechFast program assists small businesses nationally, across all industry sectors, to remain competitive though obtaining “that market edge”.

The AIC accompanied and mentored the company through meetings as well as the negotiation phase, to ultimately develop a joint partnership agreement with the Australian Institute for Marine Science. Subsequently Larissa Bright has also been assisted by the AIC in further partner searching and negotiation under the Commonwealth’s Researchers in Business Program, where the AIC has been helping it to engage with the University of Queensland .

Through its TechFast involvement, Larissa Bright Australia was then referred to the AIC Innovation Coaching program, which provided customised in-depth Market Research as the next first step into new product development. The Innovation Coaching program then led to further meetings with the AIC and local Government to discuss the possible commercialisation pathways and a number of possible strategic business decisions.

The Innovation Coaching program led to a number of introductions and further discussions with specialists in the area of Research & Development Tax Concession, Pharma- and Cosmetics Manufacturing, and further assistance with Government Grant funding.

“The Australian Institute for Commercialisation has been integral in our commercialisation process. We have found dealing with the AIC extremely efficient. They have assisted us greatly to obtain critical access to researchers and professionals to achieve our milestones. I would definitely recommend working with the AIC to my associates” said Larissa Bright, Company Director, Larissa Bright Australia.

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