R & D Start Program Directions No. 1 of 1998 (Amendment No. 1 of 1999)

Overview

The Industry Research and Development Act 1986 was enacted to foster innovation and commercialisation of research and development activities, aiming to enhance Australia's technological and economic competitiveness. This Act was introduced by the Australian Parliament to address the need for strategic support and funding mechanisms that would encourage businesses to invest in research and development. The R&D Start Program Directions No. 1 of 1998, amended in 1999, aimed to refine and refocus the support mechanisms within the Act to better align with emerging industry needs, particularly in the commercialisation of innovative technologies. The policy objective behind these amendments was to ensure that the program effectively supports businesses in maximising their innovation potential and successfully commercialising their products, services, and processes. The amendments, including the renaming of "Innovation Ready" to "COMET" (Commercialising Emerging Technologies), and adjustments to the program's operational dates, were intended to provide clearer guidance and more targeted support to participants in the R&D Start Program.

Scope and Application

The R&D Start Program Directions No. 1 of 1998, as amended by the Industry Research and Development Act 1986, applies to entities involved in commercialising emerging technologies, specifically those engaging with the COMET program. This program is designed to support businesses in maximising their innovation potential and commercialising new products, services, and processes. The legislation primarily targets small to medium-sized enterprises (SMEs) and other entities actively involved in research and development activities, providing them with financial assistance and other resources to foster innovation. The geographic reach of this legislation is national, as it falls under the Commonwealth of Australia's purview, ensuring uniform application across all states and territories. While the Act broadly applies to entities engaged in commercialising emerging technologies, there are no specific exclusions or exemptions detailed within the amendment. However, the application and eligibility for support may be influenced by subordinate instruments and specific criteria set out in the Industry Research and Development Act 1986. These instruments and criteria are designed to ensure that the financial and administrative support provided through the COMET program is targeted effectively towards entities that demonstrate the potential for significant innovation and commercial outcomes.

Key Provisions

The main operative sections of this legislative instrument pertain to the amendment of the R&D Start Program Directions No. 1 of 1998, which was originally established under the Industry Research and Development Act 1986. Section (i) of the amendment replaces the term "Innovation Ready" with "COMET" throughout the Directions (Section 1(i)). Section (ii) provides a new definition for "COMET," clarifying it as the program designed to assist clients in maximising their innovation potential and the commercialisation of new products, services, and processes (Section 1(ii)). Section (iii) corrects a reference date from 1 July 1998 to 1 July 1999 in clause 7(3)(b)(ii) (Section 1(iii)). The Act imposes several obligations and requirements on the parties and entities it governs. Primarily, it mandates that the Department of Industry, Science and Resources update all relevant documentation to reflect the term "COMET" instead of "Innovation Ready." This includes revising definitions, references, and any associated program descriptions to ensure consistency and clarity. Furthermore, it requires that all future communications and program activities align with the new terminology and definitions provided in the amended Directions. In terms of potential offences, penalties, or consequences, the legislative instrument does not explicitly outline specific civil or criminal sanctions for non-compliance. However, failure to adhere to the amended Directions could lead to administrative or procedural repercussions. These may include audits, investigations, or corrective actions by the Department to ensure compliance with the Act's provisions. While the instrument does not detail maximum penalties, non-compliance could potentially affect eligibility for funding or support under the R&D Start Program, thereby impacting the ability of clients to access the intended benefits of the program. Overall, the amendments aim to streamline and clarify the objectives and scope of the program, ensuring that all stakeholders are operating under a consistent and well-defined framework. The changes are intended to facilitate better support and commercialisation opportunities for participants involved in emerging technologies.