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David Skellern, CEO of NICTA, said the Federal government's decision to ditch the AU$707 million Commercial Ready scheme a SME grants program that subsidised the costs of innovative projects will be a significant blow to innovation in Australia.
Commercial Ready, a SME grants program that subsidised innovation and commercialisation, was scrapped in this week's federal Budget a move that will save AU$707 million over four years.
The federal Department of Innovation, Industry, Science and Research (DIISR) has this week announced the recipients of the latest round of funding for Tasmania's Intelligent Island initiative, along with several million dollars more in innovation grants across the country under its Commercial Ready program.
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The funding picture for Australian tech start-ups remains as bleak as ever.
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David Skellern, CEO of NICTA said the Federal Government's AU$707 million slash of Commercial Ready, a SME grants program that subsidised innovation and commercialisation, will be a significant blow to innovation in Australia.
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