Showing posts with label Research and Development. Show all posts
Showing posts with label Research and Development. Show all posts

Thursday, 3 September 2015

CBR backs innovation

A strong and growing economy is essential for us to meet the needs of the Canberra community now and into the future. Our economy will grow, and we will create jobs and wealth, by accelerating our innovation sector and building on our strengths in higher education and service exports.

The ACT Government, through our renewed business development strategy, is continuing to put in place practical policies that create the right business environment and use our competitive strengths to accelerate innovation, creating jobs for Canberra.

One of the three strategic priorities outlined in the business development strategy is accelerating innovation.  As part of this we are providing additional funding to the CBR Innovation Network to support potential high growth businesses including the establishment of the new business incubator program, the KILN incubator.

KILN is a business program that aims to support budding Canberra entrepreneurs through a range of services including coaching, mentoring, business advisory and office space.

Today marks the opening of the 2015 competitive funding round of the CBR Innovation Development Fund.  The Fund has been designed to support a range of initiatives aimed at developing capability and investment across the ACT’s innovation ecosystem.

The Fund will offer $700,000 for initiatives that build the capacity and capability in the innovation ecosystem, demonstrate sustainable economic growth and promote local job development. In the 2016–17 funding round the amount will be increased to $1.45 million.

It is a working example of the Government’s commitment to diversification of Canberra’s economy by creating the right business environment, accelerating innovation to create wealth and jobs and supporting investment in future growth areas.

The higher education and research sector contributes $2.7 billion a year to our economy and creates 16,000 full time equivalent jobs for the Canberra community. This is why the Government has funded a number of innovation programs such as the Innovation Connect grants, which will be delivered in conjunction with ANU and UC’s Discovery Translation Fund.

Canberra’s higher education sector has made a strong commitment to the CBR Innovation Network and recognises that a dynamic innovation ecosystem will assist these institutions to achieve their goal of turning research into commercial outcomes.

We only have to look at successful Canberra companies such as FEI Australia, SmartWard, Enabled Employment and Aspen Medical to see that innovation is vital to strengthening and diversifying the Canberra economy.

My goal is to create more companies like these, which is why the government has decided to back innovation.

This article was originally published by ACT Chief Minister Andrew Barr at www.andrewbarr.com.au.

Thursday, 5 March 2015

Discovery Translation Fund 2.0 Launched


Researchers from the Australian National University (ANU) and the University of Canberra now have access to additional funding to assist them in turning their discoveries into real-world applications.

The jointly funded Discovery Translation Fund (DTF 2.0), managed by ANU Connect Ventures, offers researchers whose work shows great potential for commercialisation, access of up to $50,000 in support funding, as well as the skills, networks and experienced support needed to translate exploration based research into economic and social impact.

Launched today at the University of Canberra, DTF 2.0 has a total pool of $3 million over three years, and will build on the success of the first round of DTF, which was an initiative of the ANU and the ACT Government. Since 2011, DTF has assisted more than 30 projects take work from the lab to the world, in areas such as water and energy conservation in domestic settings, miniaturisation of dielectric materials for use in supercapacitors and work on therapeutics targeting breast cancer recurrence.

The new program, also managed by ANU Connect Ventures, will grow innovation and enterprise within the Canberra region.

“The Discovery Translation Fund has proven to be a crucial element of the region’s innovation pipeline,” said Nick McNaughton, CEO of ANU Connect Ventures. “Canberra’s evolution as a hub of entrepreneurship has been given a boost recently with the establishment of the CBR Innovation Network, GRIFFIN Accelerator and Entry 29 co-working space. The Discovery Translation Fund has been essential in seeding these activities, and the DTF 2.0 will ensure that the outstanding work being done at ANU and the University of Canberra will continue to play a prominent role.”

University of Canberra Deputy Vice-Chancellor (Research) Professor Frances Shannon said the program is a great opportunity for those who are thinking about making the most of their research through a commercial venture.

“Many researchers reach a point after making their discovery where they need some assistance in taking the next big step. DTF 2.0 will set them on the right path, giving them some much needed financial assistance and hopefully making all the difference between great research and a viable business venture,” Professor Shannon said.

ANU Pro-Vice Chancellor (Innovation) Professor Mick Cardew-Hall said the program would help turn innovative ideas into reality, and will continue to be a key contributor to demonstrating the commercial impact of research.

“Proof of concept funding is essential for bridging the gap between a discovery and its application, but a program such as DTF 2.0 also establishes a targeted focus for project development, ensuring research is applied where the market and community will see greatest value.” Professor Cardew-Hall said.

DTF 2.0 funding grants are awarded competitively, must have identifiable commercial potential and be completed within 12 to 18 months.

Tuesday, 3 September 2013

Canberra to benefit from new Innovation Partnerships


Canberra’s space and spatial technology fields are set to grow with the announcement of a multimillion dollar innovation partnership to be headquartered at Mount Stromlo.

The Space and Spatial Innovation Partnership is collaboration between industry, government, defence, research and education organisations, with ANU as a core partner. Supporting them will be local company, EOS, who have been working from Mt Stromlo for a number of years deploying their technology to monitor space junk in danger of destroying satellite communications.

Professor Matthew Colless, Director of ANU’s Research School of Astronomy & Astrophysics, said that this type of collaboration was vital for the future of science in Australia.

In speaking with the Canberra Times, Professor Colless said “It’s a big network, and one that we think will really allow us to bring together what are essentially a whole bunch of relatively small and medium industries, and it will give them enough grunt and force to actually leverage growth of the industry in Australia”.

“We’re taking advantage of the fact that the ACT has got the ANU here, and a very highly educated base here to become more of a high tech city than it is now… We’d like to make Mount Stromlo a technology park as well as a centre of academic excellence”. Read the full article External Link - opens in new window.

The Space and Spatial Innovation Partnership will use the ANU’s world-class Advanced Instrumentation and Technology Centre (AITC) External Link - opens in new window as a key facility.

“The Industry Innovation Partnership will help the interchange of ideas and, hopefully, spur the development of the space and spatial industries in Australia. In fact, the use of the AITC will enable Australian industry and research organisations to be more competitive in the international market” said Professor Colless. Find out more about the Space and Innovation Partnership in ANU hosts space innovation partnership External Link - opens in new window.

The announcement of the Space and Spatial Innovation Partnership comes in the same week as the Sports Technology, Creative Digital, and Smart Transport and Logistics Innovation Partnerships were announced. The ACT’s involvement in all four of the partnerships will raise  Canberra’s profile as both a centre of research excellence and its reputation as a driver of small industry development.

The industry-led Sports Technology Innovation Partnership aims to create new high value jobs, boost exports and improve Australia’s performance in commercialising sports technologies. Headquartered in Geelong, the partnership will have strong connections with Canberra, with both the Australian Institute of Sport and the University of Canberra named as partners.

The Creative Digital Innovation Partnership will represent the creative digital industries, spanning the creative and information and communications technology industries, and their innovations. It will be headquartered in Sydney with nodes in three other locations, including Canberra.

The final partnership, the Smart Transport and Logistics Partnership brings together a range of industry and research partners with the aim of driving productivity and efficiency in the transport and logistics sector through technology innovation. The precinct addresses a major Australian industry which is anticipated to undergo massive growth in the next decade and which impacts the productivity of every industry in Australia.

All four of the partnerships were supported by the ACT Government and have strong collaboration connections to Canberra and our universities and business sectors. They are a part of the Australian Government’s Innovation Partnership program, a part of its commitment to supporting the growth and competitiveness of Australia businesses.

Thursday, 18 April 2013

Tax Incentives for your Research and Development

Administered jointly by AusIndustry and the Australian Taxation Office (ATO), the overarching goal of the incentive program is to encourage companies to engage in R&D, in turn boosting competitiveness and improving productivity across the Australian economy.

Canberra business, eWAY is just one example of a local business taking advantage of the program. eWAY CEO and founder, Matt Bullock said “Our global operations centre runs out of Canberra, which also houses the R&D team. Without R&D Tax assistance we would not have been able to develop our world-class payment solutions.” Read more about eWAY’s and other R&D tax incentive business stories External Link - opens in new window.

Subject to eligibility criteria and exclusions, the R&D Tax Incentive can be used to offset expenditure incurred on R&D activities, the decline in value of depreciating assets used in R&D activities and more. Find out more about the eligible deductions External Link - opens in new window.

So is your business entitled to the R&D Tax Incentive? Ask yourself:
  • Are you an eligible company? Find out if you are an eligible company External Link - opens in new window.
  • Are the activities being undertaken experimental activities? Experiments can take place in a range of settings, from a separate laboratory to an otherwise normal production line.
  • Can the outcome of the experiments be known or determined in advance on the basis of publicly available knowledge, information or experience?
  • Where are the activities being undertaken – in Australia or overseas?
  • Who is conducting the activities? You are only entitled to a tax offset for R&D activities conducted for your company (there are some exceptions to this).
  • Do you have notional deductions of $20,000 or more? If not, have you contracted the activities to a registered RSP, or made a monetary contribution under the CRC program? 
  • Do you have appropriate records and evidence of conducting eligible R&D activities to substantiate your claim?
If you are planning to claim under the R&D Tax Incentive you must register your eligible R&D activities with AusIndustry. You are required to complete this registration process each year you plan to claim.

You need to register your activities within 10 months of the end of the income year in which the activities were conducted.  For example, if your business operates on a standard financial year (1 July to 30 June) you must register by 30 April 2013. If your business operated on a substituted accounting period (1 January to 31 December) you must register by 21 October 2013.

To register for the R&D Tax Incentive visit the AusIndustry website External Link - opens in new window. To find out more about the program visit the AusIndustry and Australian Taxation Office External Link - opens in new window websites.