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Innovation program launched

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INDUSTRY minister Ian Macfarlane has launched the government’s $25m Industry Cooperative Innovation Program designed to assist B2B co-operation on innovation projects to improve the competitiveness of industry sectors.

“The program has been designed to address strategic industry needs, particularly those that have been identified in the Action Agendas, which will help to increase the productivity and growth of Australian industries,” Macfarlane said.

The merit-based program is funded until June 2011 and has two streams:

The ‘A stream’ will support project scoping or innovation mapping activities - funding of up to $150,000 is available and projects must be completed within 18 months;

The ‘B stream’ will support R&D, proof of concept, and innovation demonstration and adaptation, or implementation activities – up to $3m in funding is available and projects must be completed within three years.

Funding closing date for the first round is 25th August, 2005. For further information visit www.ausindustry.gov.au or call the AusIndustry Hotline on 13 28 46.

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