The Australian Government has called for applications from fund managers under the latest round of its Innovation Investment Fund (IIF).
Under the IIF program, the Government will provide $20 million to each successful fund manager to establish new funds of $40 million or more.
The new funds will assist early stage Australian companies to commercialise Australian research. Under the first tranche of round three the Australian Government licensed the Cleantech Australia Fund Management Partnership LP and Brandon Capital Management Pty Limited. The Government has recently licensed Yuuwa Capital under the second tranche of round three and a second manager is currently finalising their IIF licence.
Applications for the current round (Tranche 3 of Round 3) close on Monday 31 May 2010. To assist potential applicants, information seminars are being held in capital cities.
More information is at www.ausindustry.gov.au