This week, the Australian Government announced a huge $1b tech funding injection, to set the nation as the #KnowledgeNation . With the CSRIO at the healm of this announcement, the funding will be spent on various initiatives that I think will move Australia in the right way, as far as tech goes.
You can check out the official website for the complete information
Being Australian, and living in Silicon Valley for over a year now, hearing this announcement is inspiring, and long overdue, and something previous governments neglected. The previous prime minister Abbott, whom cut over $111m in budget funding, which goes to show.
This innovation fund will allow CSRIO to help the natin realize and commercialize ideas, encouraging risk and dismiss "fear of failure", through inducing tax offsets for early-stage investments (for investors), as well as laws that will help encourage crowd-funding, from the likes of Kickstarter.
But what excites me the most, are two things. Firstly, the government will setup Landing Pads in the Silicon Valley and Tel Aviv for Aussies to chase their entrepreneurial passion, as well as the Entrepreneur Visa to encourage startups and companies to allow overseas talents to get into Australia, without the red-tape associated with skilled work visas. I am for one really glad to see the value of education and technology.
The Incubator Support Programme will offer competitive matched funding to:
- support development of new incubators and accelerators in regions or sectoral areas with high innovation potential
- boost the effectiveness of high performing incubators including support to expand their services and engage a Commercialisation Adviser to help them access other government services and programmes
- provide access to top quality research and technical talent through three to 12 month secondments of national or international expert advisers
- coordinate and promote support for entrepreneurs and startups through the Australian Innovation Network—an online portal will help entrepreneurs to access information on startup support opportunities, activities and events across Australia.