Labor believes the Building on IT Strengths (BITS) Incubator program is an important element in the innovation landscape for new Australian ICT companies.
That’s why Labor will be maintaining funding at current levels. Under Labor, the program will be administered by the new ICT Section in the Department of Industry.
What part of these sentences doesn’t Senator Coonan understand?
In a recent statement, Senator Coonan said, “Senator Lundy has indicated she will re-allocate $34 million for the ICT incubators program, despite the fact that it has attracted $160 million of private capital and supported 340 start-ups”.
Clearly Senator Coonan has not read Labor’s policy or she is happy to once again “cry wolf” and lie about Labor’s plans to continue BITS Incubator funding.
Under Labor, the BITS incubators’ future is far more secure, with Labor flagging their ability to incubate other types of technology companies. The inability of the Howard Government to do the same is having a constraining effect on their operation and potential to expand.
The BITS incubators were hung out to dry for 18 months as the Howard Government procrastinated over their funding future. This irresponsible management meant some incubators hit the wall.
It was Labor that kept up the political pressure to ensure that there was some further funding before more BITS incubators hit the wall.
Labor will strengthen the IT portfolio with our plan to shift ICT industry development out of its orphaned location in Senator Coonan’s portfolio, where the Howard Government’s fractured approach has left ICT-specific programs vulnerable and distant from many of the industry development programs relating to R&D, innovation and exports.
The Howard Government’s favouritism of the big end of town has left Australian ICT companies out in the cold, at the expense of local jobs and growing sustainable local companies.
Contact: Pete Heininger – 0418 468 221 or 02 6277 3334
