Feature
Issue No. 5 - April/June 2002
Chasing the R&D Rainbow
There are only a few consultants in South Australia who regularly seek Research and Development funding for clients from both State Government funding agencies, such as Department of Industry and Trade and the Commonwealth’s agencies such as AusIndustry.
Prominent among them is Daryl Emmerson, Director of Emmersons Chartered Accountants. Daryl is a widely experienced accountant, management consultant and registered liquidator who for several years held senior advisory roles within the banking industry.
"The bank experience taught me the value that the facilitator can add in the negotiation between the Financier and the Borrower," he says. "Any Government agency including AusIndustry, should be treated like a bank when it comes to obtaining finance, the difference being however that generally very special transactions are financed by Government agencies e.g. R & D transactions, which because they are special, have their own set of due diligence processes".
Since 1993 Daryl has been sourcing government funding for clients for a variety of reasons, including innovation and R & D ventures. Today this work makes up a significant portion of the Emmersons Chartered Accounting practice business, employing up to 3–4 people in that area of the business subject to the projects on hand. AusIndustry alone support about $400 million worth of R&D Projects annually with up to 50% subsidy and the firm of Emmersons handles a sizeable chunk of the local dispensation, mostly through COMET and R&D Start programs.
"We do not focus on any one Government agency when seeking funding. AusIndustry have historically been an important source, but other departments such as Aquaculture Fisheries and Forrest and the Department of Transport and Regional Services as well as Industry and Trade are available sources of funding for businesses.
The recent publicity regarding AusIndustry must be viewed in the longer-term context of the Governments funding com...
