{"id":44043,"date":"2023-10-20T15:33:02","date_gmt":"2023-10-20T15:33:02","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/data61-gets-20-million-of-federal-funding-back-startupsmart\/"},"modified":"2023-10-20T15:33:02","modified_gmt":"2023-10-20T15:33:02","slug":"data61-gets-20-million-of-federal-funding-back-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/data61-gets-20-million-of-federal-funding-back-startupsmart\/","title":{"rendered":"Data61 gets $20 million of federal funding back – StartupSmart"},"content":{"rendered":"
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The return of federal funding to Data61 will help bridge the \u201cValley of Death\u201d between research and commercialisation, Audinate CEO Lee Ellison says.<\/p>\n

 <\/p>\n

According to the Australian Financial Review<\/i>,<\/i> funding will be returned to Data61 – formerly named NICTA – as part of next month\u2019s federal government innovation statement.<\/p>\n

 <\/p>\n

The $42 million in funding was entirely cut by the Abbott government, and with the changes to come into effect in July next year the group was swallowed up by the CSIRO earlier this year<\/a>.<\/p>\n

 <\/p>\n

Data61 will remain a separate entity within the CSIRO, and according to the Australian Financial Review,<\/i> only needs about $20 million in funding, with the CSIRO taking on the administration costs.<\/p>\n

 <\/p>\n

In its 13-year lifespan, NICTA spun out at least 15 successful startups that have collectively raised over $100 million.<\/p>\n

 <\/p>\n

The first such startup was audio-focused business Audinate, which emerged from NICTA in 2006, and Ellison says the return of funding is very positive for the Australian ecosystem.<\/p>\n

 <\/p>\n

\u201cIt\u2019s great to hear the government is considering reinstating funding for Data61 to commercialise technology research,\u201d Ellison says.<\/p>\n

 <\/p>\n

\u201cThe funding and support we received through Data61 gave Audinate the runway to develop an innovative idea and productise it. Audinate has since become a global success.\u201d<\/p>\n

 <\/p>\n

Ellison says the newly named Data61 will work to combat a stark deficiency in Australia by promoting the commercialisation of research and ideas, and transforming these into sustainable startups.<\/p>\n

 <\/p>\n

\u201cRenewed government funding will help spur Australian ingenuity and innovation, bridging the \u2018Valley of Death\u2019 described by Prime Minister Malcolm Turnbull between research and commercailisation.\u201d<\/p>\n

 <\/p>\n

Other startups that spun out of NICTA include personalised marketing service Ambiata and logo image recognition software TrademarkVision.<\/p>\n

 <\/p>\n

Following the announcement of the merger in September, former NICTA CEO Hugh Durrant-Whyte told StartupSmart<\/i> it was important the group still maintained its innovative culture<\/a>.<\/p>\n

 <\/p>\n

\u201cThe ideal outcome is if some of that startup culture from NCITA will infiltrate the CSIRO,\u201d Durrant-Whyte said.<\/p>\n

 <\/p>\n

\u201cThe best thing NICTA did was create the right culture in its staff and graduates.\u201d<\/p>\n

 <\/p>\n

\u201cTime will tell whether NICTA will have more influence on the CSIRO, or the CSIRO will have more influence on NICTA.\u201d<\/p>\n

 <\/p>\n

Now with the likely return of a large portion of its funding, it seems more likely the group will be able to still operate like a startup and maintain more of a separate identity from the rest of CSIRO.<\/p>\n

 <\/p>\n

Do you know more on this story or have a tip of your own? Raising capital or launching a startup? Let us know. Follow StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

The return of federal funding to Data61 will help bridge the \u201cValley of Death\u201d between research and commercialisation, Audinate CEO<\/p>\n","protected":false},"author":1,"featured_media":59463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,24,3,4,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44043"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44043"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/59463"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}