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Federal Government Backs Innovation

Thursday, June 22, 2006 - janine

By the end of the 30th of June 2005, a total of 2,355 companies intended to claim the R&D Tax Offset and 891 companies intended to claim the 175% Premium R&D Tax Concession for 2003-04; in 2004-05, COMET had 203 applications; the Commercial Ready programme assessed 75 grant applications approving 42 for support of over $38 million.

Grants Available to Commercialise Innovation under "Backing Australia's Ability Programme

http://backingaus.innovation.gov.au/2001/statement/index.htm  

                    Initial Additional 10 Year
  2002 2003 2004 2005 2006 2007 2008 2009 2010 1011 5 Yr Total 7 Yr Total Total
  ($m) ($m) ($m) ($m) ($m) ($m) ($m) ($m) ($m) ($m)  ($m)  ($m) ($m)
COMMERCIALISATION                          
R&D Start - 41.9 117.6 174.7 200.7           534.9    
R&D Start reprioritisation       -16.2 -3.1             -19.3  
Innovation Access Programme - Industry - 9.1 10.7 14.2 15.9           49.8    
Commercial Ready Programme       5.5 16.7 185.1 200 214 221 221   1063.3 1640.7
COMET 10 10 10 10 -           40    
      3.8 13.3 17.4 17.8 18.2 17.9 11.6   100 140
Building on IT Strengths (BITS) Incubator       13 11 8 4 - - -   36 36
Building on IT Strengths (BITS) Advanced Network(d)       8.3 7.3 5.4 - - - -   21 21
ICT Centre of Excellence (a) 4.5 8.8 12 17.7 24           67    
      - - 24.2 24.8 25.3 25.7 26.2   126.3 193.3
R&D Tax Concession(f) 6 4 -3.6 20.6 32           59    
R&D Tax Concession       - - 80 70 70 80 90 390 449

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