Minister for Industry and Skills, David Pisoni, said the $28 million Research, Commercialisation and Startup Fund (RCSF) will contribute to economic growth by encouraging collaboration between enterprises, researchers and universities, and supporting research programs aimed at stimulating new local start-ups.
South Australia’s Chief Scientist, Professor Caroline McMillen, welcomed the announcement, stating: “This fund will build the talent, infrastructure and collaborations required to attract investment and grow a strong knowledge-based economy in South Australia.”
Chief Entrepreneur for South Australia Jim Whalley noted the RCSF would address the need for networking and mentoring opportunities, as well as the financial support required to turn ideas into viable businesses.
The Research, Commercialisation and Startup Fund will be managed by the Department for Industry and Skills to support proposals that build industry research and development capability in South Australia, while advancing scientific research and helping entrepreneurs market their ideas.
It will be complemented by two other state government schemes: the Economic and Business Growth Fund, which will be managed by the Department of Treasury and Finance, and the Regional Growth Fund, to be managed by the Department of Primary Industries and Regions.
Applicants should email the Department for Industry and Skills to initiate a discussion of their proposal ahead of submitting an expression of interest application.
If you are interested in learning more about the RCSF, register now to attend the information session being held on 25 February 2019.