CHAMP's Ferris to lead Innovation Australia
Bill Ferris, co-chairman and co-founding partner of CHAMP Private Equity, has been appointed chairman of Innovation Australia, an independent, government-established body with a mandate that includes supporting start-ups and venture capital.
Ferris set up Australian Mezzanine Investments with Joe Skrzynski in 1987 - the CHAMP Private Equity funds started in 2000 as a result of a joint venture with US-based Castle Harlan - but his relationship with the asset class dates back to the 1970s when he founded the country's first venture capital firm.
In addition to his activities with CHAMP, Ferris has, among other things, served as chair of Austrade and chair of the Garvan Institute for Medical Research. He has also written three books.
While Ferris and Skrzynski retain leadership roles on CHAMP investment committees and boards, last year John Haddock was named CEO of the firm, taking on responsibility for the investment program and day-to-day management.
During his three-year term as chairman of Innovation Australia, Ferris will contribute to the government's innovation and science agenda. Christopher Pyne, minister for industry, innovation and science, said there would be investment in research, education and infrastructure, as well as providing the right financial, regulatory, and tax settings to enable businesses to test and market new ideas.
"It is a rare and exciting moment for all involved in science and innovation in Australia; a time to lift national awareness of the importance innovation must play in our future prosperity and the actions necessary for that to be possible," Ferris said in a statement. "I have long been a champion of the need for greater government and private sector effort in the commercialization of our research discoveries and inventions."
Innovation Australia is responsible for the venture capital limited partnership (VCLP) and early stage venture capital limited partnership (ESVCLP) structures through which funds investing in small and medium-sized enterprises qualify for preferential tax treatment. It also administers the R&D tax incentive program that enables certain companies to receive refundable tax credits.
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