Australia’s $1.1 Billion ‘Ideas Boom’, By The Numbers

Australia’s $1.1 Billion ‘Ideas Boom’, By The Numbers

Malcolm Turnbull today unveiled a funding scheme to promote innovation in Australia over the next four years, and there’s plenty of good news for the technology sector.

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Ranking as none other than “fantastic” news is the re-allocation of funds to the CSIRO, which suffered cuts under the Abbott goverment. $90 million will be directed towards the technology organisation which has innovated time and again for Australia.

In addition, a $30 million centre to develop nation-wide cyber security was promised, as well as $15 going towards creating a digital space for companies to more quickly and efficiently deal with the government on contract work. Those involved in Early Stage Venture Capital Limited Partnership are also set to receive incentives such as increased limits and tax offsets.

Here are some highlights:

  1. $1.1bn over four years
  2. $51mn for coding in schools
  3. $48mn towards prizes for public science competitions
  4. $18mn to entice women into STEM fields
  5. $30mn for building a cyber-security industry
  6. $15mn for a digital marketplace for businesses to sell to government
  7. $15mn for quantum computing
  8. $75mn for Data61, linking government data to the public

And here are some more detailed allocations:

For your eyes’ sake, here are those same numbers, sans blur. Click for a sharper image: