The federal government has released a discussion paper which provides details of the $484.2 million Entrepreneurs’ Infrastructure Program’s proposed services.
The Department of Industry said in a statement on its website the program will complement other government initiatives that provide support to business including the RandD Tax Incentive, Industry Skills Fund, Industry Growth Funds and the Manufacturing Transition Fund.
The program will focus on providing support for businesses via three “streams each containing a range of services”.
The first is Business Management which has $207 million worth of funding over four years and will help CEOs and managers “take time out to work on their business rather than in their business”.
With the help of advisors from the private sector businesses will develop plans for improvement and there will be access to limited funding to bring in additional specialists.
The second stream is Commercialising Ideas, which will receive $141 million over four years.
It will provide a range of tailored commercialisation services designed to provide entrepreneurs and innovative businesses access to advice connection and support, to hence their prospects of commercial success.
The final stream is Research Connections which has a pool of $26.6 million over four years and would help businesses understand the value of research, how to engage a researcher and how to negotiate agreements.
The government is seeking consultation from stakeholders until June 19.
The full discussion paper is available here.