Govt demands higher standard from incubators in new funding programme

The government wants a see a higher standard from start-up incubator programmes, which have suffered from a lack of expertise in bringing new ideas to market.

Callaghan Innovation will re-tender the incubator programme this year, after the five-year pilot programme failed to deliver pathways to commercialisation.

Of the three tech-based incubators in the pilot programme, ASX-listed Powerhouse Ventures has attracted the most attention, as it found itself at odds with founders of several investments and sold assets to address its funding position when the Australian stock market operator questioned whether it had sufficient cash to keep operating.

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