Navag8 has been awarded an Accelerating Commercialisation Grant
Updated: Nov 28, 2019
Mayfair 101's portfolio company, Navag8, has been awarded an Accelerating Commercialisation Grant by the Australian Government Department of Industry, Innovation and Science as part of the highly competitive Entrepreneurs’ Programme.
Congratulations to Navag8's exceptional management team and staff for achieving this outstanding recognition on a national scale and being awarded for its cutting-edge technology approach to change the traditional financial services and savings model.
Navag8 has developed a B2B (Business to Business) Goals Oriented Savings & Investment platform for financial services businesses, charities & NFPs. The platform is a cost effective, modern savings and investment service enabling consumers to save more, not spend more, via an innovative & engaging mobile experience.
Navag8 will join a portfolio of over 200 other high performing companies and receive funding, expert guidance and support from AusIndustry to accelerate the commercialisation and growth of its innovative saving & investing platform both domestically and in emerging markets.
Minister for Industry, Science and Technology, Karen Andrews said the grants were designed to speed up the development of high-quality projects with strong local and export market potential. “These grants are part of the Liberal-National Government’s Entrepreneurs’ Programme and support business innovation, which helps businesses expand and hire more workers,” Minister Andrews said.
“The projects show the ingenuity that will help keep Australian businesses competitive on a global stage and stimulate more economic growth - that’s why the Coalition is committed to supporting them through this funding.”
James Mawhinney, the Managing Director of Mayfair 101, says “Navag8’s success lies in reshaping the way people approach their savings and investments. Navag8 is here to disrupt the financial business model by forcing the general public to question their traditional savings tactics.”
“The power of Navig8’s savings and investment platform will majorly impact everyday Australians as well as the unbanked population of emerging financial markets such as South East Asia. That’s really where we see a massive opportunity and are very pleased to have made this investment and be working with everyone from Navag8” stated Mawhinney.