The program is designed to foster collaboration between business and relevant start-ups and research groups, and the partnership will give the bank “one-of-a-kind access to Cicada’s portfolio of 75+ advanced 'deep technology' startups and its network of national research institutions”, Cicada Innovations said.
Cicada Innovations chief executive Petra Andrén said it was “vital” to Australia’s innovation agenda for established businesses, start-ups and research institutions to collaborate more in ways that will have “significant economic impact on a global level”.
“With Australia currently ranking last in the OECD for collaboration between researchers and business, addressing this issue could mean accessing a veritable goldmine of untapped value sitting within our own local innovation ecosystem,” she said.
According to Cicada Innovations, Macquarie Capital intends to focus its involvement on ‘InfraTech’ businesses, which look at infrastructure, big data, internet of things and other similar fields.
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