Gillian Tan The Wall Street Journal December 07, 201110:50AM
THE commercialisation of Australian innovation and research has received a welcome boost following the federal government’s pledge to allocate up to $100 million to venture capital funds.
The Australian Private Equity and Venture Capital Association noted the amount was pleasingly greater than the expected $60m already allocated to the Innovation Investment Fund program.
Funds from the program must be matched by private sector investors before fund managers can invest proceeds in early stage companies and a pool of $524m has been invested in more than 100 companies since its initiation 1997.
