Australian Government Pledges $83M to Save Tech Innovators

Big story out of Australia, reported in The Australian IT section — the Rudd government will inject up to $83 million into the local venture capital pipeline as a stop gap measure to try and prevent promising tech companies going under due to the global financial crisis. The Innovation Investment Follow On fund is aimed at supporting companies developing technology in areas such as ICT, biotech and clean energy at risk from VC capital drying up due to the economic crisis. Read it in full here.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: