Innovation vital for job creation and strong local economy

Local businesses are being urged to partner with the Australian Government and tap into innovation assistance that will help them bring their smart ideas to the market.

Federal Member for Chifley, Ed Husic said the Gillard Labor Government had a number of assistance programs in place to help start-up companies overcome the challenges of commercialising new ideas, products and processes.

"In our own backyard, we have Huntingwood’s International Animal Health in the process of successfully developing biological controls for intestinal disease in Australia’s farm animals," said Mr Husic.

"It's great to see that IAH’s project has been made possible with the help of the Government through AusIndustry innovation funding - and this in turn has promoted and protected local jobs."

“The project aims to develop chemical-free products for biological control of colibacillosis in pigs and intestinal nematodes in sheep, cattle, horses and goats.”

Mr Husic said business innovation creates jobs, lifts production and is a key factor in driving a competitive economy at a local and national level.

“Smart start-ups provide a solid foundation to convert our strong research base into new products, services and processes,” Mr Husic said.

“Government programs such the proposed R&D Tax Credit can help to cut costs and risk.

“Through Commercialisation Australia, they have access to a number of funding measures and business experts to help them get their products to market.

“The Innovation Investment Fund supports private venture capital funds that provide ‘smart money’ to innovative businesses wanting commercialisation skills and access to overseas markets at a critical time.

“All along the commercialisation line there is valuable assistance available and I urge our local innovators to talk to AusIndustry and Commercialisation Australia about how we can help.”

For more information on the support available, visit www.ausindustry.gov.au and www.commercialisationaustralia.gov.au , phone 13 28 46 (AusIndustry hotline) or email hotline@ausindustry.gov.au.

Photos: Ed Husic MP Facebook Page - http://on.fb.me/k03XRH
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Ed Husic MP
Federal Labor Member for Chifley


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