AusBiotech comments on government’s Entrepreneurs’ Infrastructure Program

Trade body AusBiotech has made preliminary comment regarding the establishment of the Entrepreneurs’ Infrastructure Program (EIP), based on questions posed in the EIP Discussion Paper.

The Australian government announced in the May Federal Budget that it would close a number of programs (worth A$845.6 million), including Commercialization Australia (CA) and the Innovation Investment Fund (IIF), and establish the new Entrepreneurs’ Infrastructure Program (EIP), worth A$484.2 million over five years, “to implement its new approach to industry policy.” The government has advised that the EIP will be delivered through the new Single Business Service initiative via the Department of Industry, which will be accessible through one portal with one call center and helpline number. The portal, helpline and the initial services in the business management stream of the EIP are due to begin on July 1.

The government has advised that the services under the EIP will be refined following the stakeholder consultation and the EIP will support the government’s National Industry Investment and Competitiveness Agenda, which will be finalized in the coming months. The design of the EIP is also to complement other Government programs that provide support to business including the R&D Tax Incentive, Industry Skills Fund, Industry Growth Funds and the Manufacturing Transition Fund.