It is informed that several seafood companies are ready to participate in Seafood CRC and have agreed to invest up to $2,450,000 over six years in research that will deliver transformation improvement to the Australian seafood industry. The Seafood CRC will match this investment up to a total of $1,984,500. There are proposals to take up this opportunity which must include collaboration with one or more existing Seafood CRC research providers, or new research providers.
It is told that participants, whether new or existing, are expected to contribute significant additional in-kind investment. Seafood CRC opined that there is now an opportunity for an existing participant or for one or more new entrants to take up the gap in investment that has arisen from the withdrawal of Lonsec.
The main benefit of Seafood CRC is that participants gain access to a network of innovative companies and research agencies interested in pursuing commercial opportunities in seafood. This includes linkages to other government programs and additional sources of funds.
The participants will be required to pay cash to the Seafood CRC, in approximately equal annual instalments up to June 2014. In return, the Seafood CRC will contribute $0.81 for each dollar received. The total amount will be invested by the Seafood CRC into research projects determined by the industry investor in collaboration with research providers. All project concepts are approved by the Seafood CRC Board.
