Industry Innovation and Science Australia - Innovation Investment Committee

The Industry Innovation and Science Australia (IISA) Board delegates oversight functions over the Venture Capital (VC) programs to the Innovation Investment Committee (IIC) to assist IISA administer the suite of VC programmes, and provide guidance to the department throughout the lifecycles of various programs. For venture capital tax program, Venture Capital Limited Partnerships (VCLP), Early Stage Venture Capital Limited Partnerships (ESVCLP) and Pooled Development Funds (PDF), this includes decisions on registration, and decisions relating to compliance and interpretation of provisions in the relevant Acts. The IIC is also delegated responsibilities for the Business Research and Innovation Initiative (BRII) by the IISA Board. These include conducting assessments and providing a merit ranking of applications for feasibility grants up to $100,000, as well as proof of concept grants up to $1 million. Additionally, the role involves providing assessments of proposals for variations to the parameters of a challenge selected for the BRII, as well as for variations to an agreed feasibility and proof of concept projects.