Home Funding & Finance $64M Federal investment ‘survival’ pool for promising early-stage Australian companies

$64M Federal investment ‘survival’ pool for promising early-stage Australian companies


Last Thursday the Federal Government announced that 11 fund managers had been named to oversee investment of $64 million into promising early-stage Australian companies under the Innovation Investment Follow-On Fund (IIFF).

Making the announcement, Senator Kim Carr, Minister for Innovation, Industry, Science and Research, said, “The new IIFF is a temporary, targeted and timely response to address the lack of capital available to the most promising innovative companies during the global financial crisis. The fund will enable these early-stage companies to continue to develop and to commercialise research.”

The designated investee companies have previously received investment capital though Rounds 1 and 2 of the Innovation Investment Fund, the Pre-Seed Fund and under the former ICT Incubators program.

Twenty of the eligible 22 fund managers applied for assistance. The 11 successful applicants are:

Allen & Buckeridge Asset Management$7,100,000
BT Imaging Pty Ltd, Heard Systems Pty Ltd, RPO Inc.

AMWIN Management$5,440,000
EnGeneIC Pty Ltd

Coates Myer and Company$1,910,000
Dilithium Networks Inc

Divergent Capital Partners$2,750,000
Genos Pty Ltd, Inovia Holdings Pty Ltd

GBS Venture Partners$10,047,000
AiMedics Pty Ltd, Applied Physiology Pty Ltd, Hatchtech Pty Ltd, Hydrexia Pty Ltd

distIP Pty Ltd, Hoodlum Active Pty Ltd, Mesaplexx Pty Ltd, Sky Technologies Holdings Pty Ltd

Healthcare Software Pty Ltd, Packaged Solutions Pty Ltd (trading as Getbusi), The Learning Edge International Pty Ltd, Tickit Systems Pty Ltd

Neo Technology Ventures$5,100,000
Open Kernel Labs Pty Ltd

Playford Capital$7,450,000
Cavitus Pty Ltd, e-Channel Online Pty Ltd, Ember Technologies Pty Ltd, Neuro Vision Technology Pty Ltd, Reproductive Health Science Pty Ltd, Signostics Pty Ltd

Starfish Ventures$9,850,000
Audinate Pty Ltd, MIGfast Pty Ltd, Mimetica Pty Ltd, Monitoring Division Inc, Ofidium Pty Ltd

Start-up Australia Ventures$8,510,000
Bionomics Limited, Mimetica Pty Ltd