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Government of South Australia - Department of Industry, Innovation and Science

    Research and Innovation Fund

    Supporting innovations to market

    A strong, vibrant and high-quality research and innovation ecosystem is vital for driving future economic growth, productivity and wellbeing in South Australia.

    The Research and Innovation Fund (RIF), established in 2018 and managed by the Department for Industry, Innovation and Science is a strategic fund that invests in the entire South Australian research and innovation value chain, aligned to the state’s priority industry sectors.

    This includes leveraging co-investment from the Australian Government and the private sector, to:

    • continue to develop a high performing research and innovation system through further investments into the state’s established and emerging centres of research excellence, further building capacity and capability;
    • support greater research and industry collaboration to drive the translation and commercialisation of innovative products and services into national and international markets;
    • support the development and adoption by business of critical technologies that drive productivity and competitiveness; and
    • support the growth of innovative early-stage business addressing national and international markets.

    The RIF has three streams which targets the fundamental components of the research and innovation value chain.

    Funding streams

    Stream 1

    Funding to support research initiatives that will create innovative solutions, translate research into industry or commercial outcomes that address economy-wide challenges for South Australia, and support the adoption of critical technologies by businesses.

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    Stream 2

    Funding to start-up and early-stage businesses to commercialise an innovative product or service.

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    Stream 3

    Supports innovation and entrepreneurship programs, events and activities that deliver broad benefits to the South Australian start-up community.

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    Research and Innovation Fund principles

    Industry Investment Principles

    The project is focused on at least one of the identified growth sectors. The project will enable at least one of the following:

    • Drive high paying and sustainable jobs;
    • Attract and retain young wealth creators;
    • Lead to the growth or creation of value-added products and service industries; or
    • Drive export industries’ productivity efficiency and capacity.
    • The investment would not otherwise occur without financial support from the South Australian Government.
    • There should not be displacement of existing businesses as a result of the project proceeding.
    • The financial support is transitional, and the project is financially sustainable over time without the need for further South Australian Government financial support.
    • The quantum of financial support provided is appropriate given the economic benefits that are delivered.
    • The financial support is conditional on the recipient meeting agreed milestones and outcomes.

    RIF Investment Principles

    • The investment delivers on the innovation commitments within the South Australian Government’s strategic plans and priorities.
    • The investment is supported by key stakeholders through provision of cash and/or in-kind resources.
    • The investment strengthens the State’s research and development capacity and capability.
    • The investment encourages greater business investment in research, development and innovation.
    • The investment supports the commercialisation of products and services with clear potential to benefit the state through the creation of high-value jobs, revenue and exports.
    • The investment contributes to the growth and development of the state’s entrepreneurial and innovation ecosystem to enable organisations to grow and scale into global markets.

    The investment enables early-stage businesses to grow and scale through improved access to finance, skills, technology and markets.

    Research and Innovation Fund recipients

    View the recipients of the three streams of the Research and Innovation Fund.

    View all RIF recipients

    Get help navigating opportunities

    There are experienced DIIS team members available to support your growth ambitions – whether that be help with workforce development, navigating government and other support programs, connecting with peers and industry leaders, or the adoption of new technologies.

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