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CSIRO boosts funding for SME innovation

10 April 2024

innovationMember stories

Up to 750 small and medium businesses will have access to extra support to turn innovative ideas into business ventures after CSIRO expanded its SME Connect program.

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A $20 million investment will allow businesses to receive facilitation, training, dollar-matched funding and research support to engage in company-led research projects.

SME Connect has supported businesses across a broad range of industry sectors including technology, manufacturing, agriculture, mining, energy and health and biosecurity.

The suite of SME Connect programs include:

  • CSIRO Kick-Start: an initiative for innovative Australian start-ups and small businesses, providing funding support and access to CSIRO’s research expertise and capabilities to help grow and develop their business.
  • Innovate to Grow: a free, 10-week online program designed to help SMEs progress their research and development (R&D) ideas.
  • RISE Accelerator: provides support to startups and SMEs who are working on innovative technology and are considering overseas expansion between India and Australia.

CSIRO Chief Executive Dr Doug Hilton emphasised the significance of this investment for Australia’s critical SME sector.

“SMEs are crucial drivers of Australia’s future and so often the engine room of new, innovative thinking and solutions to many of the challenges our society faces,” Dr Hilton said.

“CSIRO’s fundamental role as the national science agency is to create benefits for Australia and that includes helping to drive SME’s productivity, sustainability and growth through greater access to R&D opportunities and conducting research to support a more resilient and diverse economy.

“CSIRO is committed to its role within the innovation ecosystem of supporting SMEs in embracing research and providing access to the resources, knowledge, and support they need to flourish.”

More information including details of the programs available to businesses is available via https://www.csiro.au/sme.

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