The budget has closed Commercialisation Australia to new applications. Full applications submitted and accepted on or before 21 March 2014 will be assessed, and if meritorious against the assessment criteria they will be funded. All existing recipients of CA will still continue to be funded.
A new Entrepreneurs’ Infrastructure Programme will replace:
- Australian Industry Participation
- Commercialisation Australia
- Enterprise Solutions
- Innovation Investment Fund
- Industry Innovation Councils
- Enterprise Connect
- Industry Innovation Precincts
- Textile, Clothing and Footwear Small Business and Building Innovative Capability
By discontinuing these programs the government will save $845 million over five years. Some of these funds ($484 million) will be distributed through the new Entrepreneurs’ Infrastructure Programme.