$10m researchers in business scheme announced

A $10 million program to help Australian inventions get to market was launched at the Universities Australia conference in Canberra, recently.

The $10 million Researchers in Business program, presented at the conference by the Minister for Innovation, Industry, Science and Research, Kim Carr, is designed to bridge the gap between public sector research and business.

It aims to give new developments a greater chance of being commercialised at home while boosting innovation in small and medium-sized firms.

The program will place researchers in small and medium-sized businesses for two to 12 months, providing $50,000 per business to employ researchers from universities or public research agencies.

It can provide an opportunity for firms to develop new commercial ideas, while giving Australian researchers hands-on experience.

Researchers in Business is part of the Australian government's Enterprise Connect network. To find out how to access the program, visit www.enterpriseconnect.gov.au.