Mind-reading computer's threat to venture capital
Summary
The 1995 Labor budget included funding for a radio-controlled lawn mower that promised to cut grass at the same height, even over bumps; a microchip that delivered bionic vision; and scans that determined when biscuits being cooked would taste the best. Some $130 million was initially allocated to private venture capital funds, which in turn were assigned to find promising young companies. A generous tax break, which includes cash refunds, for research & development by companies with less than $20 million revenue is the most-expensive component of the governments support for innovative business. Ferris wants to lower the cost to protect the tax break from bureaucrats trying to balance a budget who may remember how computers that can read brain waves were portrayed as an inspiring idea in 1995. Similar technology has been used at the university to see if computer games might be played directly from the brain, circumventing hand-held controllers, according to Brett Wilkinson, the head of first year studies in the College of Science & Engineering.