ARCHIVE - The Hon Ian Macfarlane MP was the former Minister for Industry, Tourism and Resources. The following media release was issued during his term as Minister. A new Government was sworn in by the Governor-General on 3 December 2007, including the following Ministerial appointments:
Senator the Hon Kim Carr - Minister for Innovation, Industry, Science and Research
The Hon Dr Craig Emerson MP - Minister for Small Business, Independent Contractors and the Service Economy, Minister Assisting the Finance Minister on Deregulation.
For media releases from the current term of Government, please visit http://minister.innovation.gov.au
Media Release
The Hon Ian Macfarlane, MP
8 May 2007
Australian innovators will continue to receive targeted assistance with a $200 million a year boost to the Howard Government's flagship innovation programme, Commercial Ready.
Australian Minister for Industry, Tourism and Resources, Ian Macfarlane, tonight announced the successful scheme will be ongoing.
"Commercial Ready has been overwhelmingly popular with small and medium sized businesses, with the Australian Government's investment more than paying off," Mr Macfarlane said.
"Having seen the effectiveness of the scheme, the Howard Government will provide over $200 million per year on an ongoing basis for matching grants to Australian companies.
"Companies across the full range of industries have already received grants on a competitive basis to support their R&D, proof-of-concept and early stage commercialisation activities.
"Small and medium sized businesses face high risks in commercialising their research. Ongoing support via Commercial Ready will give businesses the certainty they need to successfully bring their innovations to market.
"Innovation is a key driver of economic growth and has contributed to the growth of our industries and the prosperity we now enjoy. Each project supported through Commercial Ready is assessed to ensure its benefit to the Australian economy," Mr Macfarlane said.
The Howard Government had already committed more than $1 billion to Commercial Ready to 2010-11 as part of its package Backing Australia's Ability – Building our Future through Science and Innovation.
For further information about Commercial Ready visit www.ausindustry.gov.au.
Media contact: Claire Wilkinson 02 6277 7580 0419 840452