Established in 1970 to facilitate the development of Australian industries, and the participation in those industries by Australian residents, by providing financial services to those engaged in the industries and by participating in enterprises or projects. In July 1989 the majority of the Corporation's business was transferred to AIDC Ltd, which was subsequently floated on the Stock Exchange. The corporation was the majority shareholder of AIDC Ltd and remained the borrower for the AIDC Group. On 8 November 1995 the Corporation made a takeover offer for the minority shareholdings in AIDC Ltd and the company was delisted on 8 February 1996. AIDC Ltd was sold on 15 September 1997 and the activities of the Corporation are being wound down including the disposition of residual assets.