SYDNEY, Sept. 16, 2019 /PRNewswire/ -- ASX listed Strategic Elements Ltd (ASX: SOR) is pleased to announce that a team from its artificial intelligence and robotics Company 'Stealth Technologies' has commenced the ON Prime: Defence Program for "innovative technology with potential to deliver real impact for Australia's national security and defence".
Delivered by CSIRO in partnership with Defence Science and Technology (DST), the Program creates a unique opportunity to fast-track the Company's defence technology proposition with experts and potential end-users. Defence Science and Technology (DST) is part of the Australian Department of Defence.
The Program seeks "innovative technologies that have the potential to deliver game-changing capabilities for Australia's national security and defence".
The Stealth Technologies stealthOS (autonomous AI software) and robotics technology relevant to the Program is in 'trusted autonomous systems' and 'integrated intelligence, surveillance and reconnaissance'.
The Program is delivered in partnership with DST under the Next Generation Technologies Fund, a AUD 730 Million fund focusing on emerging and future technologies for the "future Defence force after next'.
The ON Prime: Defence Program will:
- Assist to build Defence sector business model capabilities within Stealth Technologies
- Test paths for intellectual property, know-how and technology through Defence sector customer discovery and market validation.
- Be conducted over a three month period from 16 September 2019.
- Enable Stealth Technologies to retain 100% of the Intellectual Property it develops in the Program.
Australian Defence Sector and SME's
Prime Minister, Scott Morrison has previously announced that the federal government will procure AUD 3 billion of equipment for Australia's Special Forces. Local manufacturers including small-to-medium enterprises (SME's) will be called on to provide advanced defence systems, in addition to prime defence contractors. In an announcement made last month, the first AUD 500 million was approved.
Managing Director Mr Charles Murphy said, "Working with defence industry experts and DST (a part of the Department of Defence) will dramatically improve our Defence technology capabilities and development of end user business cases. The Directors of Strategic Elements and the in-house development team have invested an incredible amount of time and effort and we look forward to the busy and formative period ahead".
The Stealth Technologies team has an experienced in-house team of international award winning PhD and Masters qualified research engineers with deep capabilities in artificial intelligence, computer vision and robotics (hardware and software). The team is augmented by members of Strategic Elements Ltd and key advisors who have strong commercial expertise in complex data analytics and software development with large multi-national corporates.
Stealth Technologies has the capability to custom build artificial intelligence and robotic systems for its own proprietary technologies and in collaboration with commercial/government partners for their own specific business cases. Most artificial intelligence companies only focus on software development. Stealth Technologies' point of difference is the multi-disciplinary capability to physically custom build automated robotic machines, integrate computer vision capabilities enabling a computer to see (through cameras and sensors) and create artificial intelligence through machine learning and software development.
Strategic Elements Ltd
The Australian Federal Government has registered Strategic Elements as a Pooled Development Fund with a mandate to back Australian innovation. Strategic Elements operates as a 'venture builder' where it generates ventures and projects from combining teams of leading scientists or innovators in the technology or resources sectors. Due to the Pooled Development Fund program that Strategic Elements operates under, most shareholders pay no tax on capital gains or dividends. The Company is listed on the ASX under the code "SOR".
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