The Sydney-based counter-UAS company has received a multi-million-dollar incentive from the Commonwealth government.
DroneShield has announced its receipt of a $2 million cash payment, awarded via a grant from the Australian government as an R&D Tax Incentive.
The grant, awarded for DroneShield’s work throughout 2021, represents the largest recorded government incentive since the company’s inception.
Oleg Vornik, DroneShield’s CEO, said the award is a reflection of the company’s continual growth in the counter-UAS space, both domestically and abroad.
“DroneShield appreciates the substantial support it receives from the Australian government, through grants and export support for overseas sales, alongside of our current and under proposal contracts with the Australian Defence Force,” Vornik said.
“At over 40 engineers, DroneShield has grown to be an Australian-based global leader in the artificial intelligence, electronic warfare and adjacent technologies, which are becoming increasingly in demand in current uncertain times around the world.
“This record grant receipt reflects the unique R&D work that we do, here in Australia.”