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Improving the commercialisation of research in South Australia: Report released

technology

Premier Jay Weatherill wants to back South Australia’s technology sector with cash in State Budget

SOUTH Australia’s technologly sector is in line for a major State Budget boost, as Premier Jay Weatherill says the state should learn from US cities that moved from “rust belt” to “brain belt”.

Mr Weatherill today released the findings of a report into fostering innovation in SA, which includes recommendations aimed at ensuring university research is used in business.

The most expensive recommendation in the report is for the State Government to establish a $50 million venture capital fund, which would be directed to assist emerging tech firms.

Mr Weatherill said the strategy would work in tandem with the Federal Government innovation statement unveiled last year and required an acceptance that some investments would fail.

Read more: Adelaide Now

Read more: State Government Media Release