Fund managers around the country are invited to submit applications under the latest round of the Government’s venture capital support program, the Innovation Investment Fund (IIF).
Opening the latest application round today, Innovation Minister Senator Kim Carr said the fund has been an important catalyst for building new innovative businesses, developing fund managers, and growing a domestic venture capital market. “Through the IIF program the Australian Government will provide $20 million to each successful fund manager to establish new funds of $40 million or more. Applications for Tranche 3 of Round 3 close on Monday 31 May 2010.