The Cooperative Research Centres (CRC) Association has published its 2021-22 Pre-Budget Submission.
Urging the Federal Government to invest in industry-led cooperative research to generate innovation that will see Australia thrive in the post COVID-19 world.
Industry-led collaborative research enabled through Cooperative Research Centres (CRCs) and Cooperative Research Centres Projects (CRC-Ps) is an Australian success story. The CRC Program is a bedrock of our national innovation system.
In summary our policy recommendations are:
1. Incentivise innovation through industry-led research collaboration by establishing an up to 20% R&D tax collaboration premium consistent with recommendation 2 of the 2016 Review of the R&D Tax Incentive.
2. Invest in cooperative industry-led research and innovation to grow our economy and create new industries and jobs by growing the investment in CRCs and CRC-Ps by $50 million a year over the forward estimates, with new investment focused on the National Manufacturing Priorities and economic and social benefits aligned to Australia’s national interest.
3. Invest in an industry-ready workforce and jobs for the future by establishing an Industrial PhD program that goes beyond internships to ensure students are based in industry or a CRC for the majority of their program. Extend the Research Training Program to enable Industrial PhDs that are industry-led and industry-based. Expand upon Recommendation 2 of the 2016 Review of the R&D Tax Incentive to include a tax offset for companies who invest in PhD students.