CRI's Support The Venture Investment Fund

24 May, 2001 NEWS RELEASE

Crown Research Institutes Support The Venture Investment Fund

Crown Research Institutes welcome the Government’s initiative to establish the Venture Investment Fund to help kick-start new innovative ventures , the President of the Association of Crown Research Institutes, Dr Keith Steele, said today.

“We hope this initiative will succeed in stimulating new business activities and provide opportunities for innovative researchers within CRIs and elsewhere to establish new enterprises.

“It is essential that, as a country, we make the maximum use of the human capital represented by the talented researchers we have in our CRIs.

“We are, however, disappointed that the Government has tapped CRIs for half of the Government funding to support this move, particularly in view of the budgetary constraints that have limited increases in core public science funding.

“But we recognise that the Government is committed to the development of a knowledge society in its attempt to build new sources of wealth.

“The Venture Investment Fund provides one opportunity to encourage new ventures. Just as important is the need to build even closer and more effective links between the business community and CRIs to better make use of the opportunities facing the nation.

“We’re also supportive of moves to promote centres of excellence within our tertiary sector. Individual CRIs have supported centres of excellence in a number of fields through collaborative arrangements with universities to better concentrate the nation’s key resources.”

Ends

For further information:

Dr Keith Steele
President, ACRI
Tel: (07) 834-6600

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