I can see the fund moving in multiple directions in support of Australian universities, researchers and biotechs abd also global companies in respect of the R&D done in Australia. My expectation (of a goal) would be the seeding of synergies to take science to the prominance it had (say) back in the 60s. So far so good.
Other factors at play include previous expenditure on sciencethe hubs sitting in universities (eg SAHMRI Adelaide), and a role for the CSIRO. I could see a performance goal of early stage researche being the spin off of biotechs. The policy as it is seems non specific and formative. Presumably the Government will take advice through the NHMRC and presumably the NHRMC will seek advice and submissions from stakeholders including industry players.
It's all good ... very good so long as the application of the fund can be moulded in sustainable directions ... and for this the industry may need to do some lobbying. When the dust settles, CEOs and industry bodies will clearly need to talk the talk.
Logically, a wide range of funding approaches will be required. I see the desirability of a both loan funds and equity seed funds and outright grants to groups who can keep the IP together for early stage projects. And something for whizz kids.
