Thriving, innovative small and medium businesses are key to the Commonwealth Government's plan to build a secure, strong economy and create jobs.
Ten businesses have just received funding to help achieve this under Research Connections, an initiative helping small and medium business work with researchers to develop new ideas with commercial potential.
The initiative is aimed at improving businesses' productivity and competiveness and is an element of the $484.2 million Entrepreneurs' Infrastructure Programme announced by Minister for Industry and Science Ian Macfarlane.
It is just one of many initiatives we have in place to foster small and medium businesses. The Government also recently announced the $476 Industry Skills Fund to help businesses upskill their staff, has launched a Single Business Service website as a one stop shop of advice and support, has slashed $56 million a year in red tape so businesses can focus on growing, and signed Free Trade Agreements with Japan, China and Korea.
These initiatives are all part of the Commonwealth Government's plan to help small and medium businesses reach their potential, support our communities, contribute to the economy and create jobs.
One of the recipients of Research Connections is an innovative Australian biotech business, Sydney based company Sirtex. Sirtex will use the funding to work with the University of Sydney to diversify into new treatments based on early-stage research developed from its liver cancer treatment.
This is fantastic, as it is critical innovative medical science is supported to help ensure Australia remains a world leader in medical research and to find treatments for diseases including cancer.
See the Minister for Industry and Science's media release at http://www.minister.industry.gov.au/ministers/macfarlane/media-releases/.
Details of the 10 recipients of assistance from Research Connections is available on the Australian Government's Business website.