The purpose of the CSIRO Innovation Fund is to invest in start-up and spin off companies, and SMEs engaged in the translation of research generated in the publicly funded research sector.
The CSIRO Innovation Fund will comprise a commitment of $70 million in government funding, $30 million revenue from CSIRO’s WLAN programme and additional private sector investment, with a target total value of $200 million.
The Fund will have a unique value proposition to investors and potential investment opportunities.
It is expected to:
- be open to investment proposals from CSIRO, universities, other publicly funded research agencies and their partners including SMEs
- focus on proposals that bring forward the commercialisation of ‘deep technology’ across government-aligned national industry priorities as currently articulated through the Industry Growth Centres
- invest for both commercial return and national benefit
- focus its investment toward companies establishing themselves and with most assets in Australia during their formative years.
The intent is that funding will be provided without co-investment where necessary to kick start very early stage proposals and to address the initial ‘Death Valley Curve’ in pre-seed and seed funding, but co-investment will be encouraged.
For more information (source) see >>> The CSIRO Innovation Fund
Image: Dixit Motiwala