Today it was announced that CSIRO would receive $150m for the CSIRO Innovation Fund, managed by Main Sequence Ventures, as part of a broader program of work aimed at accelerating the commercialisation of research and increasing industry collaboration.

CSIRO Chief Executive, Dr Larry Marshall said: "We know that connecting great research across all Australia's universities with real world problems in industry, is the key to translating science into real world solutions.

"Accelerating and focusing research on the problems that really matter to Australians will help us recover faster from the economic and social impacts of COVID, and make us more resilient to future disruptions," he said.

Main Sequence was formed by CSIRO in 2017 with investment from government and CSIRO. To date, Main Sequence has invested in 39 'deep tech' companies, who have then invested that money into research and development towards the Australian university sector and CSIRO.

More details about the commitments announced today will be shared over the coming months.