Australia is setting up a $200-million innovation fund — half public and half private money — to try to commercialize breakthrough research from universities, government agencies and other research bodies, reports the Sydney Morning Herald. Among the projects are Kebari, an ultra-low-gluten barley and FutureFeed, an additive for livestock rations made from seaweed that dramatically reduces methane emissions by cattle.
If it succeeds, the fund “will turn innovative start-ups into businesses that create jobs ad boost exports,” said the Morning Herald. Prime Minister Malcolm Turnbull announced an innovation agenda when he took office last year.
Science Minister Greg Hunt said the CSIRO Innovation Fund “will bridge the gap between science and industry. It’s about maximizing value from taxpayer-funded research and ensuring that important discoveries are made beyond the laboratory.” CSIRO is the Commonwealth Scientific and Industrial Research Organization, a government corporate entity.