Commercialisation Australia has struck a partnership deal with not-for-profit entrepreneur network TiE Sydney with the aim of backing innovative Australian start-ups.
An agency of the Federal Government, Commercialisation Australia offers funding and business resources to entrepreneurs and inventors.
It aims to commercialise Australian innovation via a range of initiatives, which includes the funding of early stage product development and commercialisation.
It has partnered with TiE Sydney, which is part of TiE, a global, not-for-profit network of entrepreneurs and professionals, which has come to stand for “Talent, Ideas and Enterprise”.
Established in Silicon Valley in 1992, its primary goal is to build Silicon Valley-style ecosystems where entrepreneurship thrives.
TiE has 13,000 members in 57 chapters, including the Sydney chapter, which was established in 2000.
According to TiE estimates, those associated with TiE have created businesses with market value over $200 billion since 1992.
The Sydney chapter of TiE provides advice and support to the Sydney entrepreneurial community through mentoring, networking and education.
TiE Sydney typically holds events at the start of every month, usually in the Sydney CBD. It also has an active mentoring program.
“Commercialisation Australia is very pleased to partner with TiE,” chief executive Doron Ben-Meir said in a statement.
“Our two organisations share many synergies in fostering entrepreneurship and innovation to create market success.”
According to TiE Sydney president Dilip Rao, TiE’s partnership with Commercialisation Australia will enable it to increase awareness of CA’s programs within its entrepreneur network.
“Entrepreneurs at all stages of the lifecycle can take advantage of TiE Sydney’s mentoring, education and global network,” Rao says.
The partnership will extend the reach of both CA and TiE Sydney to more market-ready entrepreneurs.