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

Re:too bad the proceeds came from stifling progres

[Thanshin]

Known as "The Red Blackout", "The Redout" or simply "Ketchup monday".

Typical

[T Murphy]

The greed! First they get lots of money, then they go and put it to good so as to deprive me of being able to indignantly call them out for their immoral ways. The government can never do anything right!