(Pictured: Innovation Australia as at 12 January 2012)
Back row: Dr Laurie Hammond, Ms Margaret Calvert, Mr Innes Willox, Dr Nicholas Gruen, Mr Ken Windle, Mr Carlos Broens, Mr Richard Shaddick, Ms Elizabeth Lewis-Gray, Dr Jonathan Spring, Ms Chris Butler and Mr Gerard Noonan. Front Row: Mr Leslie Hosking, Dr Beverley Ronalds, Mr David Miles AM and Dr Peter Riddles.
Innovation Australia is an independent statutory body established to assist with the administration of the Australian Government's innovation and venture capital programs designed to support industry innovation.
Established on 27 September 2007, Innovation Australia is an amalgamation of the former Industry Research and Development (IR&D) Board and the Venture Capital Registration (VCR) Board (formerly known as the Pooled Development Funds Registration Board). On its establishment, Innovation Australia assumed the roles, responsibilities and powers of the two former Boards.
Innovation Australia assists in administering Australian Government innovation and investment programs namely:
- Commercialisation Australia (CA);
- Early Stage Venture Capital Limited Partnerships (ESVCLP)
- Innovation Investment Fund (IIF);
- R&D Tax Concession (including the R&D Tax Offset and 175% Premium (Incremental) Tax Concession); and
- Venture Capital Limited Partnerships (VCLP).
In addition to these products, Innovation Australia also monitors ongoing projects under the following programs which are now closed to applications including:
- Climate Ready Program;
- Commercialising Emerging Technologies (COMET);
- Commercial Ready Program (including Commercial Ready Plus);
- Green Car Innovation Fund
- Industry Co-operative Innovation Program (ICIP);
- Innovation Investment Follow-on Fund (IIFF);
- Pooled Development Funds;
- Pre-Seed Fund (PSF);
- R&D Start Program;
- Renewable Energy Development Initiative (REDI);
- Renewable Energy Equity Fund (REEF); and
- Re-Tooling for Climate Change.
Like its predecessor, Innovation Australia administers these programs through a number of committees that are formed to assist with the consideration of applications received under the innovation and venture capital programs.
Further information about Innovation Australia's activities, responsibilities and programs is available in the Innovation Australia Annual Reports.
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