Home' Border Enterprise : May 2013 Contents ENTERPRISE DIRECT MAY 2013
Hon SUSSAN LEY MP
Federal Member for Farrer
To run a successful business you need
to balance the budget and ensure every
investment is financially prudent and
You probably know this, first hand.
If you don’t balance the books,
the business doesn’t survive.
It’s as simple as that.
I also understand small to medium sized
businesses are the engine room of our local
That’s why I’m delighted to advise a future
Federal Coalition Government will have a
dedicated Minister for Small Business.
Putting small business interests at the
forefront of government thinking, ensures
the sector is top-of-mind, giving you
certainty and support.
That allows you to grow and create jobs,
which then benefits the entire economy.
That’s a joint success story worth selling.
Ph: 02 6021 3264
Visit us today at
618 Dean Street, Albury
Phone: 02 6057 2000
• A-la-carte Dining Room
• Sevens Bistro
• Reflections Cafe
• Live Entertainment
• Fitness Centre
• 12 Private Event Rooms
AT least $200 million is to be invested into early stage, high growth
Australian companies through three new venture capital funds which
are supported by the Federal government’s Innovation Investment
Fund (IIF) in a partnership with Innovation Australia (IA)
“During a time of economic transformation, innovation is extremely
important for it creates new business opportunities, fosters growth
and identifies the jobs of the future,” said IA Chair, David Miles AM.
“Businesses need to move up the value chain to take advantage of
new opportunities domestically and internationally, particularly
in the Asian region,” he said. “This means lifting their capabilities,
expanding their horizons and investing in innovation.
“Access to patient, high-risk capital, especially at the pre-seed and
seed stage to support startups is critical to the commercialisation of
new ideas with market potential.”
The three new IIF funds were selected under the latest tranche of
the IIF, a key vehicle for providing small and medium size enterprises
with access to venture capital.
Government funding of $100 million will be matched dollar-for-
dollar by private sector investors in Carnegie Venture Capital Pty
Ltd ($40 million), GBS Venture Partners Pty Ltd and Innovation
Capital Associates Pty Ltd ($30 million each).
The primary aim of the IIF is to commercialise leading Australian
research to produce new technologies, products and services that
will be sold around the globe. The new fund managers will provide
crucial equity capital and essential management expertise to a whole
range of promising companies across the economy.
Successful start-ups are essential in creating new products, jobs
and economic growth. Over three rounds, the IIF has established
16 funds and has co-invested in new companies including Seek,
Bionomics, Pharmaxis and Benthic Geotech.
It is expected that the three new funds will be established by the end
More information on the IIF program can be accessed via the website
www.ausindustry.gov.au or by calling the AusIndustry Hotline on 13 28 46.
5/15/2013 4:17:05 PM
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