Australian government commits $360m to innovation fund, clarifies VC structures
The Australian government will provide A$350 million ($360 million) in new funding for the Innovation Investment Fund to support small- and medium-sized enterprises (SMEs). Improvements have also been made to the early stage and venture capital limited partnership (ES/VCLP) structures through which funds investing in SMEs qualify for flow-through tax treatment.
The measures form part of the government's Industry and Innovation Statement, a wider initiative that will see A$1 billion committed to spur job creation. The Industry Innovation Fund was set up in 1997...
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