SYDNEY, June 18 (Xinhua) -- Driverless cars could soon be seen on the streets of Sydney with a 10 million Australian (7.44 million U.S.) dollar fund announced by the State of New South Wales (NSW) on Monday to develop the automated technology.

"The future belongs to those who hear it coming, and this investment looks to harness the power of technology to improve lives across the State," NSW Minister for Transport and Infrastructure Andrew Constance said.

With driverless cars already being tested extensively on the roads across Europe, Asia and North America, the Australian State fund will allow governments, universities, private companies and startups to work together and test the technology around NSW.

"Driverless vehicles are going to change the playing field and open up so many new opportunities to provide personalised transport services," Constance said.

Already, an automated shuttle is currently being tested at Sydney's Olympic Park complex and is expected to be available for use between venues within the coming months.

Apart from convenience of the technology, by eliminating human error, the government believes driverless vehicles will be a much safer alternative to travel.

"This technology offers so many opportunities to significantly decrease our road toll numbers, so that is why we have to look at embracing it now and getting it right," Minister for Roads, Maritime and Freight, Melinda Pavey said.

According to the NSW Centre for Road Safety, more than 30 people are hospitalised by in car crashes on NSW roads each day.

The fund will be handed out in grants over the next four years.