February 24, 2017
The CSIRO Innovation Fund will support co-investment in new spin-out and start-up companies, and SMEs engaged in the translation of research generated in the publicly-funded research sector. The fund, established as part of the Australian Government’s National Innovation and Science Agenda, will comprise a commitment of $70m in government funding, $30m revenue from CSIRO’s WLAN program and additional private sector investment, with a target total value of $200m. CSIRO Chief Executive Dr Larry Marshall said the Innovation Fund was the “final piece in the puzzle”, revealing the vision set out in the organisation’s Strategy 2020, saying: “We have aligned all the pieces: from market roadmaps that guide our science to address the most critical needs; to the ON sci-tech accelerator to help Australia’s scientists apply their science for national benefit; and now we have the Innovation Fund to invest in those ideas and reap the rewards of their success. It’s a virtuous cycle of investment in taking our best ideas from bench-top to beta to…