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National Innovation and Science Agenda Released: $1.1b Investment in Startups and Innovation

Today Australia's entrepreneurship and innovation ecosystems received some fantastic news, the Federal Government announced the provision of $1.1 billion dollars towards fostering entrepreneurship and innovation nationally, through the much anticipated National Innovation and Science Agenda (NISA)!

The National Innovation and Science Agenda

Twenty-eight measures were announced, all readily welcomed and endorsed by the CBR Innovation Network (CBRIN), helping to affect a change in culture nationally towards entrepreneurship and innovation.

NISA features a holistic and strategic approach, inclusive of all of Australia’s existing innovation ecosystems and those areas needing development; CBRIN has been set up to operate in a similar fashion, using a similar approach. CBRIN supports all areas of the innovation ecosystem in the ACT, acting to foster innovation and entrepreneurship through a systematic approach, one which encompasses all constituent groups and organisations, including its five foundation members: CSIRO, NICTA, ANU, UC and UNSW Canberra.

Today the Prime Minister, the Hon Malcom Turnbull MP, spoke of providing the jobs of the future, of providing opportunities for all Australians, and CBRIN is excited to be involved in this fantastic national development. CBRIN is also very excited by the measures announced today towards an open government procurement approach and tax offsets; which will grow the total funding base available.

One of NISA’s key measures is the support for business Accelerator and Incubator programs, detailed in the Incubator Support Programme. Today’s announcement will support the growth of these programs, increase the number of start-ups it can grow, and increase the support they receive.

CEO of CBRIN, Sarah Pearson, speaking of the support today given to business Accelerator and Incubator programs, said “I strongly support the Australian Government investing in Accelerators and Incubators that have a proven track record in growing businesses, this will help the Australian economy grow. Examples like Austin, USA, Boston USA and Israel have strong government investment in Incubator programs, and each area has over one hundred programs.” Watch Sarah Pearson talk about Incubators and Accelerators for today's launch.

CBRIN is very excited by NISA and the opportunities it provides,both for Canberra and Australia.

Read the full National Innovation and Science Agenda.

Source: The CBR Innovation Network Team