Australia Provides $80M in New Funding to Innovation Investment Fund
Fund managers (V/C firms) will focus on various sectors, including life sciences, materials, and cleantechnology.
Australia’s Innovation Minister Kim Carr noted in press releases that the latest round of funding is targeted at early stage ventures to help lead them to commercialization success. Each venture company will receive $20 million, and will focus on specific technology-focused industries. One of the fund managers, Start-up Australia, will focus on start-up funding opportunities across a range of industries. Australia’s Innovation Investment Fund was started in the late 1990s during the Internet boom. Since then, the Fund has supported more than 90 companies.
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