Prime Minister Malcolm Turnbull's shiny new innovation package restores science funding so savagely gutted by Tony Abbott, but it might be too little, too late.

While the restoration of funding to the CSIRO in the $1.1 billion National Innovation and Science Agenda has been welcomed, after the loss of one in five staff, the loss of some research projects, and the planned closure of eight sites, it is cold comfort for some. The innovation package announced yesterday included $200 million for a CSIRO innovation fund to co-invest in new companies capitalising on research created by Australian institutions. There is also $20 million to expand CSIRO's accelerator program for commercialisation for research, and $75 million for Data61, the technology research commercialisation entity (formerly known as NICTA) brought into CSIRO after NICTA lost its government funding.