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The Federal government offer business a range of incentives to innovate and commercialise technology, including the Research and Development (R&D) Tax Credit.
The R&D Tax Credit is effectively a non-competitive grant for businesses where they incur expenditure on eligible R&D activities. The two core components of the R&D Tax Credit are:
Other grants are available to business to assist in the development of products and technology, establishing venture capital funds as well as developing export markets.