Innovation funding has been largely spared from the government’s $43 billion drive for fiscal cut-backs, with a new $350 million round for the Innovation Investment Fund and fresh cash to publicise Australian start-up success stories.
The federal government has picked three venture capital funds to co-invest at least $200 million into high-growth Australian start-ups via its Innovation Investment Fund.
The Sydnovate Fund provides critical financial support for research projects with commercial potential. These funds will be used to: Strengthen University Patents, especially by reducing inventions to practice during the 12 months period between Provisional filing and PCT filing. Strengthening the University’s copyright portfolio. Develop ’unripe’ projects into licensable opportunities by reaching critical milestones and
NEW dollar-for-dollar schemes backed by the federal government are needed to stop the miscarriage of promising research due to a lack of commercialisation funding. The boost is needed to encourage universities and medical institutes to set aside discretionary funds for crucial early stage proof-of-concept work once Australian Research Council and National Health and Medical Research
The University of Adelaide’s Commercial Accelerator Scheme (CAS) puts up to $150K into promising research projects with the hope to attract commercial partners and outside investment. The Scheme is set up to encourage industrial collaboration early in the proof of concept process (matching funds, other support).
Experts have called for federal government investment in entrepreneurial and venture capital skills, including the establishment of a $100 million fund for budding venture capitalists, to boost Australia’s struggling commercialisation industry.