Australian Government unveils new program for commercialising research23 October 2009Senator Kim Carr, the Minister for Innovation, Industry, Science and Research, has unveiled a radical new program for commercialising research which will take a new approach to innovation assistance. The $196 million Commercialisation Australia initiative, due to open early next year, has been set up with aim of getting Australian ideas to market, as well as creating new jobs. “Commercialisation Australia is designed to specifically boost early stage commercialisation by leveraging private sector capital and expertise,” Senator Carr said. The program was developed in consultation with more than 250 stakeholders from across a number of sectors and will help researchers, innovators and entrepreneurs turn the best ideas into commercially competitive realities. Successful applicants to the program will benefit from a number of different support services, including specialist advice and a case manager to guide them through the commercialisation process, support of up to $250,000 for proof of concept activities, and repayable funding of up to $2 million for early stage commercialisation activities. More information |