The Innovation Nation is not Dead

The National Innovation and Science Agenda

It’s all well and good to engage a patent attorney to protect your intellectual property – and that’s what we at Frank Hyland are especially good at – but it doesn’t get you very far if you can’t lift your innovation project off the ground. That’s why we’re going to give you a head start by pointing you towards some of the excellent opportunities for venture capital that are being offered by the Australian Government.

One of the best sources is the National Innovation and Science Agenda. At the end of 2015, Prime Minister Malcolm Turnbull unveiled a $1 billion innovation and science package, which included the $100 million CSIRO Innovation Fund that is specifically targeted at improving the connections between our nation’s academic and industrial circles.

The funding is particularly focused on six dedicated “industry growth circles”:

  • Advanced manufacturing
  • Cybersecurity
  • Food and agribusiness
  • Modern technologies and pharmaceuticals
  • Oil, gas and energy resources
  • Mining equipment, technology and services

The program is going very well, with a range of initiatives currently in the pipeline. For instance, the University of Queensland and Deakin University are working with an Australian company to develop a new type of plastic that will be available for a range of purposes, including the replacement of steel rebar in concrete. The carbon nanotubes are up to 300 times stronger than steel, yet they are as small as 30 one-millionths of a millimetre.

As well as providing money for research, the fund is there to invest in start-up and spin-off companies. Significantly, it is not just looking for financial return on the money that is invested, but is also interested in national benefit. The Innovation Fund is the perfect place to go when you have an idea or invention that is too much of a gamble for private investors, yet has wider positive implications for the community.

To find out more about the Innovation Fund, including how you can get a piece of the pie, visit the CSIRO site.

Meanwhile, the Government is offering plenty of other help as part of its National Innovation and Science Agenda. Visit the Innovation site to find a wide range of resources for start-ups, entrepreneurs, researchers and investors.

Franke Hyland provides complete Intellectual Property management as part of its IP Strategy service.