Pilot fund expected to start next year to bring companies together to invest in nascent businesses and boost Australian innovation.
Australia is considering bringing together a group of large companies to form a management team to run a corporate venturing fund to back innovative small and medium-sized enterprises (SMEs).
A pilot of the project could start as early as next year, according to business organisation Australian Industry Group.
The group’s Innovation Review Steering Committee in its report, Innovation: New Thinking>New Directions, said: "Participants identified an opportunity to facilitate development of knowledge and experience in corporate venturing, by bringing…
