The Government will establish a $10 billion Clean Energy Finance Corporation Fund through legislation announced as part of the carbon tax package that will be put before Parliament in May 2012. A review panel has been appointed to design the fund and set out the process for its investments in renewable energy, low emissions and energy efficiency technology.   The corporation is expected to commence operating next year.

The Government today announced details of the long awaited Clean Technology Investment Program. The CITP will provide $1 billion in funding for manufacturers to improve energy efficiency and reduce pollution and also help manufacturers buy new plant and equipment which cuts their energy costs or reduces carbon pollution.

Eligible manufacturers can apply for funding under the programs from today.

The latest round of Inspiring Australia : Unlocking Australia's Potential grant will provide $5 million available across three categories for projects to be delivered between 2012 and 2014. It is intended to fund a collection of projects that provide a good mix of activities with a variety of approaches, audiences, locations and topics.  This grant will provide money to museums, universities, industry, local government, community and other organisations for activities that increase knowledge of science, and the benefits that science brings to everyday life in the community. Priority will be given to areas not previously funded by the Inspiring Australia initiative.

The round is open for applications from 16 January to 29 February (4pm AEDST) 2012.

The 15th Cooperative Research Centres (CRC) funding round for 2012 will focus on clean manufacturing, social innovation and sustainable regional communities which are seen to represent significant challenges for our nation and are vital to our economic and social prosperity.

The Government announced the introduction of the Industry Transformation Research Program today.  This new $249 million package is designed to help Australian industries become more competitive and create new job opportunities by providing 1000 cadetships, research training centres and research hubs.

Up to $100 million will be invested in new, innovative companies as part of the Australian Government's Innovation Investment Fund (IIF).   The final tranche of IIF Round three of $100 million will lead to $200 million of venture capital for early-stage which reduces the financial risk to larger venture capital funds with the capacity to make significant longer-term investments.

From today Australian entrepreneurs will not have to repay Early Stage Commercialisation grants for businesses developing a new product, process, or service. Additionally, the annual turnover limit for applicants will rise from $20 million to $50 million and access to skilled managers now have the option to apply for an Experienced Executives grant of up to $350,000 - previously $200,000.

The Australian Government's small business website www.business.gov.au. has finally been upgraded to make it more user friendly. Business owners can now search for government funding and support more easily following changes to the Grants & Assistance Finder Tool which provides improved access to government grants and assistance. The search tool lists more than 600 grants but does not provide advice on how to successfully claim each grant.  That still a lucky dip unless you use a professional grants consultant like Pattens.  Contact grants@pattens.com

The Australian Government is committing $A9 million to the Australia-China Science and Research Fund from 2011-12, which will be matched by the Chinese Government. This is in addition to recent reforms to assist Australian researchers to collaborate with international partners.  The recent commitment follows the announcement made earlier this year to provide funding to support Australia-China joint research centres. The Australian Government will provide up to $1 million for each centre which will be matched by the Chinese Government. Joint research centres must include at least one Australian Eligible Research Organisation and one Chinese partner.

National Science Week will engage communities across Australia between 11-19 August 2012 and will be officially opened today by the Minister for Innovation, Senator Kim Carr. Through the Australian Government's Inspiring Australia initiative, $500,000 in grants of between $2,000 and $25,000 will be available for individual one-year projects. If you have a great idea, you could be part of it.