Up to $100 million will be invested in new, innovative companies as part of the Australian Government’s Innovation Investment Fund (IIF).
The Gillard Government aims to support private sector investors in helping to ensure that new business ideas originating from Australian firms and research organisations compete in lobal markets.
Senator Kim Carr said the $100 million will lead to $200 million of venture capital for early-stage investments.
According to senator Carr, the Australian Government aims to increase investment in growth companies and connect them with international markets.
“We not only want to create high-value jobs and products that will boost productivity, but also enhance our international reputation for innovation and quality research,” the senator said.
Applications for IIF tranche four close on July 2, 2012.
More information on the seminars for applicants is available on the IIF website.