Department of the Legislative Assembly

Business Innovation Funds

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WRITTEN QUESTIONS
10th Assembly


19/07/2005

119. Business Innovation Funds

Ms Carney to MINISTER for Business and Economic Development

QUESTION
Business Innovation Funds

      Minister, one of the CLP's policies at the election was to establish a Capital Innovation Fund, a venture capital body designed to provide funding to innovative companies looking to expand new technologies - and was very warmly received by many businesses:

      1. Why has your government not introduced a similar venture capital proposal.
      2. Is it true that a similar proposal was taken to Cabinet for submission but not approved?
      3. Why hasn't your government taken steps to back these local, innovative businesses.

ANSWER


Answered on 31/10/2005

1. The government continues to monitor the finance environment and will consider how to encourage the establishment of a venture capital fund when it is considered appropriate.

2. No

3. DBERD works with the Federal Government agency, AusIndustry, to ensure eligible clients are able to access a range of support programs that assist the commercialisation of emerging technologies.
Last updated: 04 Aug 2016