April 15, 2026
European Australian Business Council Boardroom Dinner with Senator the Hon Tim Ayres, Minister for Industry and Innovation – 14 April 2026 (Sydney)
The past few weeks have been extraordinary.
- The Australia–EU Free Trade Agreement is concluded.
- A new defence and security partnership is in place.
- And Australia is now on track to join Horizon Europe in 2027.
We have certainly entered a new phase in the Australia-Europe relationship.
There is, of course, a lot to celebrate. But we’re also very conscious of the broader context – a challenging geopolitical environment, ongoing supply‑chain pressures, and real uncertainty for industry and business.
That makes what the Australian Government has achieved – with the support of many around this table – all the more significant.
As I said recently at the EABC event with European Commission President Ursula von der Leyen, “It has taken time, and no small measure of goodwill – almost matching the distance between Australia and Europe. But that distance has never weakened the determination to reach the right outcome.”
Partnerships with those who share our values matter more than ever.
Minister, you have held the Industry, Innovation and Science portfolios for less than a year, yet you have delivered the most significant outcome Australia’s research and innovation sector has ever seen.
Securing Australia’s pathway into Horizon Europe – is something no federal Industry Minister has been able to achieve over the past decade.
And in a period that has seen six different Industry Ministers, this really does stand out – for its ambition, for its persistence, and for the strategic clarity behind it.
Now – joining Horizon Europe is about much more than access to funding.
It’s about strategic alignment.
It’s about capability.
And it’s about Australia’s long‑term national interest.
It is also about strengthening the Australia-Europe innovation pipeline – from discovery to scale‑up, to commercial deployment – particularly in areas that matter deeply to all of us here – sovereign capability, advanced manufacturing, clean energy, health and defence‑related technologies.
And we can already see how this works in practice.
Companies like Siemens, are actively engaged in Horizon Europe–funded projects – using those collaborations to advance industrial digitalisation, AI‑enabled engineering and energy‑system innovation – and turning research into technologies that can actually be deployed at scale.
In health and life sciences, companies such as AstraZeneca work closely with European universities and research institutes participating in Horizon Europe, using these large‑scale collaborative ecosystems to accelerate biomedical discovery and translate research into real patient outcomes.
That is exactly what Horizon Europe is designed to do.
Australia’s research‑intensive universities already sit at the centre of this pipeline.
And the European Union is our strongest international research collaborator – which is precisely why it makes complete sense for universities to be so well represented around this table.
Collectively, the Group of Eight invests around $10 billion annually in R&D.
And importantly, that investment doesn’t sit on a shelf.
The Go8 generates almost $100 million a year in commercialisation revenue, around 50 per cent more than CSIRO, holds over $280 million in equity across start‑ups and spin‑outs.
So, this isn’t abstract. It’s real economic and industrial impact.
And this goes directly to the intent of the Strategic Examination of R&D.
We’re realistic. We know rebuilding Australia’s research base won’t happen in a single budget cycle. This is long‑term, structural reform.
But for the first time in more than a decade, we are clearly moving in the right direction.
So Minister, on behalf of the EABC Board, I want to thank you – genuinely – for your leadership, your commitment and your personal engagement in delivering this outcome.
This is a decision that will endure well beyond any single term of government and will shape Australia’s research, industry and innovation landscape for generations.
I have personally been knocking on doors for more than a decade, making the case for Australia to join Horizon Europe – and I am delighted to say I can finally retire that script.
Horizon Europe is a game‑changer. Not just for universities – but for industry, business and Australia’s future.
The Group of Eight is proud to support this initiative by matching the Government’s contribution to Horizon Europe’s joining fee. Thank you, Minister, for acknowledging that recently at the National Press Club.
The Go8’s membership of the EABC is a natural fit.
Like our Minister – a University of Sydney alumnus, I note – the EABC understands the value of deep, trusted university–industry collaboration. It’s something Europe does exceptionally well, and something Australia is increasingly getting right.
There is much anticipation about the upcoming EABC delegation to Europe.
This year we’ll arrive with real ambition – and with a genuinely strong story to tell – as the Australia–Europe relationship continues to go from strength to strength.
Thank you all for being here this evening and thank you to Siemens for hosting us.
Peter Halliday will introduce the Minister after the main course, and I’m very much looking forward to the discussion ahead.
