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Commercialisation Australia up and running

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As reported by R and D Info, Commercialisation Australia, the Australian Government’s new $196 million, four-year initiative to assist with the commercialisation of new products, is up and running with the appointment of a CEO and announcement of the first round of funding.

The inaugural CEO is Mr Doron Ben-Meir, the founder and CEO of Prescient Venture Capital. Mr Ben-Meir has also held the positions of Principal, Private Equity and Venture Capital at Jagen Pty Ltd; General Manager, IT&T Investments at Escor Pty Ltd; and Investment Director at Momentum Funds Management. He co-founded several companies, including EneSolve Pty Ltd (energy efficiency); Centricom Pty Ltd (on-line payments); Giesecke & Devrient Australasia Pty Ltd (smart card manufacturing), and Security Magnetics Pty Ltd (identification security).

This month has also seen the announcement of the first 21 innovation projects to be supported by Commercialisation Australia. Grants awarded range in size from $1,858,349 to $50,000. Details of successful applicants are at www.commercialisationaustralia.gov.au/

Commercialisation Australia has called for tenders to assist in the establishment of assessment, monitoring, training and recruitment processes for a Volunteer Business Mentor Program. Tender details are at www.tenders.gov.au