CSIRO Reinvests Patent Earnings

ozmanjusri writes with an update to a story we discussed a few days ago about a $200 million patent victory by CSIRO, Australia's governmental science research body. The organization has now turned around and reinvested $150 million of the proceeds into the science and industry endowment fund, which has already established three grants: "$12 million for two wireless research projects and $7.5 million for up to 120 fellowships and scholarships." CSIRO boss Megan Clark said, "It's very important that when you have a success like this, you reinvest it back into the wellspring. It's really about supporting areas that might need a helping hand in some of the frontier areas and research that actually tackles the national challenges."

Comments

Fat pipe to the intertubes

[cerberusss]

"$12 million for two wireless research projects" CSIRO boss Megan Clark said

She declined to comment on the fact that the first project took place at the roof of her apartment building and the second was located near a datacenter.

Re:too bad the proceeds came from stifling progres

[nietsch]

Comparing with ridiculous factoids does not prove your argument right. if 200 million is pocket change to you, I'd beg you to give a small part of that to me. In return, I will teach you about the tranquility one obtains by not having to work for your money.