VENTURE CAPITAL BOARD

In reply to Dr McFETRIDGE (Morphett) (26 June 2008).

The Hon. K.O. FOLEY (Port Adelaide—Deputy Premier, Treasurer, Minister for Industry and Trade, Minister for Federal/State Relations): I have been provided the following information:

The Venture Capital Board's scholarship program covers the cost of registration to attend the Venture Capital Institute in Atlanta, Georgia, USA plus an amount to defray the associated return economy airfare to get the scholarship winner from Adelaide to Atlanta and back. For 2008 the VCI registration cost is US$3,000, which is at a discount from the standard registration cost, and is paid up-front on the scholarship winner's behalf.

The amount provided to defray the cost of a single return economy airfare from Adelaide to Atlanta for the 2008 scholarship is currently capped at $3,500 and is provided as a reimbursement to the scholarship winners on provision of a trip report and evidence of their flight cost expenditure.

The VCI registration cost and airfare reimbursement cost are incurred by the office of the Venture Capital Board for each scholarship winner.