Industry Collaboration Fund to open

Businesses and research organisations within Industry Innovation Precincts will soon be able to benefit from the Australian Government’s Industry Collaboration Fund.

Guidelines have been released in the lead up to the opening of Round 1 of the Industry Collaboration Fund (ICF) Program on July 1.

The ICF Program is a key element of the $500 million Industry Innovation Precincts initiative established under the Australian Government’s $1 billion Plan for Australian Jobs.

The $130 million Fund will offer grants ranging from $100,000 to $10 million with an annual investment of up to $50 million a year by 2016-17. This Fund will be ongoing.

Minister for Industry and Innovation, Greg Combet, said the ICF Program would facilitate new collaborations and support projects that address market, technology and supply chain opportunities through the Industry Innovation Precincts.

“Projects supported under the Industry Collaboration Fund Program will have potential to generate significant benefits, innovative practices and develop world-class commercial activity,” Mr Combet said.

Eligibility for the Industry Collaboration Fund Program is limited to Precincts established under the Industry Innovation Precincts Program. Funding rounds are expected to be held twice a year.

The first two Industry Innovation Precincts, in the Manufacturing and Food sectors, will launch in July and will be eligible to apply for funding in Round 1.

Up to eight remaining Precincts will be selected from industry-led proposals. These precincts will be eligible to apply for future rounds of the Fund.

Applications for Round 1 of ICF grants close on July 12.

For more information, including the Fund guidelines, visit: http://www.aussiejobs.innovation.gov.au/iip.