The Albanese Government’s $15 billion National Reconstruction Fund (NRF) legislation is a vote of confidence in Australian ideas, innovation and research.
Group of Eight (Go8) Chief Executive Vicki Thomson said the NRF would boost Australia’s sovereign capability in critical sectors.
“The seven priority areas identified by Government are all areas in which Go8 researchers have world class expertise,” she said.
“Our researchers are consistently making ground-breaking discoveries in medical science, renewables and low emission technologies, defence capabilities and enabling capabilities across robotics, AI and quantum, and others.
“Strategic investment in priority areas will underscore Australia’s strengths and boost the commercialisation of innovation and technology, which in turn supports new and emerging industries.
“In the words of Minister for Industry and Science Ed Husic: We have all the ingredients we need right here – the people, the capability, the natural resources – to compete with the best in the world to produce new technologies and research.
“The NRF is a much-needed investment in Australia’s ability. Investment that supports the commercialisation of Australian made discoveries will go a long way towards ensuring our best and brightest remain onshore and continue to contribute to the growth of vital industries and the nation’s future economic prosperity,” said Ms Thomson.
Go8 Universities undertake 70 percent of all Australian university based research and has a demonstrable track record in research commercialisation. Collectively, in 2020 the Go8 earned $95.5 million in research commercialisation income, twice that of the CSIRO.