A reshuffle of Prime Minister Malcolm Turnbull’s cabinet has seen Employment Minister, Senator Michaelia Cash named Minister for Jobs and Innovation.
Malcolm Turnbull has named Arthur Sinodinos the new Minister for Innovation in a reshuffle following the resignation of Health Minister Sussan Ley.
The government has launched the Biomedical Translation Fund, a $500 million fund that will help commercialise biomedical discoveries.
The government has launched the CSIRO Innovation Fund, a $200 million fund that will look to commercialise research generated at the organisation and other publicly-funded bodies.
The Regional Collaborations Programme looks to encourage research organisations, universities, and ‘R&D intensive businesses’ to collaborate on new products with partners in the Asia Pacific.
A review of the R&D Tax Incentive has recommended the Government cap the R&D cash refund available to startups and small to medium enterprises at $2 million annually, while doubling the expenditure claim threshold of large corporates to $200 million.
With the CSIRO celebrating 100 years of scientific excellence the Federal Government has outlined a vision for CSIRO to become the world’s most premier public research organisation in the next 10 years. The Turnbull Government has revealed it is currently consulting with the CSIRO to revise the organisation’s Statement of Expectations, which will form the basis of its operations over the next two decades.
The Federal Government has today opened applications for its $23 million Incubator Support program, following on from recent changes made to its structure and funding. The support program will help startups access invaluable resources, and will now provide larger grants to existing accelerators and incubators.
Just a few days after Australia fell two places down the Global Innovation Index to 19th, new Minister for Innovation Greg Hunt has discussed the creation of a new federal fund to help spur innovation in businesses worth between $20 million and $200 million.
Former Environment Minister Greg Hunt has been appointed the new Minister for Industry, Innovation, and Science, taking over from Christopher Pyne, who has moved on to the Defence portfolio.