Budget charts way forward for industry-research collaboration  

Cooperative Research Australia has welcomed the Albanese Government’s commitment across portfolios in its first Budget to the translation of research, and collaboration between industry and research institutions for the benefit of all Australians. 

“The commitment to the utilisation of science and research is noticeable for announcements across portfolios, from Industry, Science and Resources, and Education, to Social Services and Climate Change. 

“We are delighted to see the Cooperative Research Centres program continue its longstanding role as a flagship program in the Australian innovation system, with a slight increase in funding for the program over the forward estimates to $806 million,” said Cooperative Research Australia CEO Jane O’Dwyer. 

“It is a significant investment, but one that continues to deliver real benefits. We know data presented at our Collaborate Innovate Conference in April showed that the present and anticipated economic benefits (to 2025) of the CRC Program over the period of 2012- 2020 are $31 billion. GDP is currently $12.2 billion higher because of the program, GDP increased by $5.61 for every dollar of Government funding, and 22,007 full time equivalent job years have been created because of the Program. 

“The $15 billion National Reconstruction Fund is an exciting and transformative initiative, and we look forward to working with Minister Husic through the consultations as the Fund takes shape.  

“We welcome the investment in our universities, with investment in research commercialisation programs confirmed, significant funding for new Commonwealth funded places, and a commitment to deliver the Universities Accord.  

“We are also pleased to see investment in National Critical Research Infrastructure remains steady, and these crucial centres have certainty of funding. 

“It is great to see the Autism CRC, which has had a significant impact for many Australians over its lifetime, receive $2 million under the Social Services portfolio to continue its work. 

“This is a budget that indicates that this government is committed to that most fundamental engine for creating a more complex and sustainable economy – the translation of outstanding Australian research into commercial, economic, social and environmental benefits.”