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Radium founders David Weir (left) and David Brennan with client Sue Bahn. Photo: Attila Csaszar

Radium’s capital R&D funds plan

The founders of Perth-based business lender Radium Capital are using their experience in the fintech sector, the backing of veteran Perth dealmaker Tony Brennan and a New York investment fund, to seek a competitive edge.

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Pattens Group Pty Ltd, Hornsby, NSW
Australian is a smart country with innovation that is the best in the world. The government introduced legislation in June 2011 for payment of quarterly R&D rebates, but canned the concept in December 2014. Currently, 15,000 companies claim the R&D Tax Incentive, with $3.2 billion paid as tax-free cash rebates. The scheme is invaluable to the rapid development of Australian innovation but needs prompt delivery of the required funds. The Radium loan offering is very timely and will provide a significant benefit to the development of Australian technology. Many eligible businesses do not claim the R&D Tax Incentive or any of the other 1,000 grants currently being offered, worth $50 billion annually. It makes you wonder if we really are a smart country.

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