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The Innovation Investment Fund (IIF) programme has been developed to remove the financing bottlenecks experienced by small technology-based firms, ensuring that the benefits of Australian innovations flow directly into the economy. A recent Coopers and Lybrand study showed that Australian firms receiving venture capital experienced 20 per cent annual growth, compared with growth of 2 per cent in other areas. The IIF programme now totals about $260 million in public and private funding.