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The new pyrethrum collective industry fund (CIF), now known as the Hort Innovation Pyrethrum Fund, was established at the end of 2016.
It brings together financial contributions from the pyrethrum industry – collected as a voluntary levy – and allows access to Australian Government contributions.
Hort Innovation will be responsible for strategically investing the levy and government funds into R&D projects to improve industry productivity and profitability, and to ensure the longterm sustainability of the pyrethrum industry.
All investment decisions are to be made in close consultation with industry, with Hort Innovation to finalise an industry-specific Strategic Investment Advisory Panel (SIAP) for this purpose.
Find project updates and see your levy at work in the latest Hortlink
Strategic Investment Advisory Panel
Since December 2016, the pyrethrum industry has had an interim SIAP, with panellists to be finalised during 2017/18. As for other industries, SIAP panellists are selected according to skills-based criteria and considering geographic and sectorial diversity. Each SIAP also has a chair.
When providing advice to Hort Innovation on potential levy investments, the SIAP’s guiding document will be an industry-specific Strategic Investment Plan (SIP). This document will outline key investment outcomes and strategies, and ensure all investment decisions align with industry priorities.
Hort Innovation is working with industry to draft and validate this SIP over the coming months.