In the latest Federal Budget for 2024, Cooperative Research Australia (CRA) has expressed its satisfaction with the government’s emphasis on enhancing Australia’s scientific and technological prowess.
In particular, the budget outlines continued support for Cooperative Research Centre (CRC) funding and initiatives aimed at transforming the landscape of Australian research and development (R&D).
Jane O’Dwyer, CEO of CRA, lauded the budget’s strategic direction, stating, “This was a Budget that has put education, research, manufacturing, and industrial transformation at its core – a recognition of the critical need for innovation to support a resilient and thriving economy for all Australians in the future.”
A notable highlight for CRA was the government’s commitment to the successful Cooperative Research Centre program, allocating $888.365 million across the forward estimates.
This funding reaffirms the CRC program’s crucial role in supporting Australian industries, the organisation said in a media release.
Moreover, CRA welcomed the allocation of $20.3 million over five years for initiatives such as the Powering Australia Industry Growth Centre and the Future Battery Industries Cooperative Research Centre.
These initiatives aim to foster collaboration between industry and research sectors, particularly in areas like battery research, manufacturing, transport, and recycling.
CRA also expressed support for the strategic examination of Australia’s R&D system, aiming to strengthen its alignment with national priorities and enhance innovation outcomes.
O’Dwyer emphasised, “We are looking forward to working with the government to build upon the high-performing initiatives and to build greater coordination of Federal investment in innovation.”
Reflecting on Australia’s innovative potential, O’Dwyer highlighted success stories like Cochlear, underscoring the importance of strategic investment in R&D.
She stated, “The review of R&D is an opportunity to understand what we are doing right, and what we can improve, and to coalesce around the grand challenges that face our nation.”
CRA also praised the significant investment in universities and the commitment to funding Science, Technology, Engineering, and Mathematics (STEM) programs.
