The Innovative Manufacturing Cooperative Research Centre (IMCRC) has announced the closing of its doors after seven years of supporting the transformation of Australian manufacturing.
According to the centre’s 2023 Achievements and Outcomes Report, it purposely allocated $40 million of Commonwealth financing over its tenure to industry-led R&D in order to expand Australia’s manufacturing capacity and create practical commercial benefits.
Using this initial pool of funding, IMCRC catalysed a $254 million project portfolio comprised of 71 collaborations between 78 industry partners, 13 universities, and the Commonwealth Scientific and Industrial Research Organisation.
Meanwhile, a report published by ACIL Allen found that by strategically investing in Commonwealth and other funding, IMCRC has helped generate estimated financial benefits of almost $4.2 billion for the industry by 2030 including $3.7 billion in additional revenue.
Reflecting on the term of the CRC, IMCRC’s Chair, the Hon Ian Macfarlane, said, “I would like to thank the Board for their tireless dedication to the success of the IMCRC, and CEO and Managing Director, David Chuter, and his team for their incredible work supporting participants on their innovation journeys. Their efforts have made IMCRC arguably Australia’s most successful CRC.”
In his final message as CEO and Managing Director of IMCRC, David Chuter emphasised how thrilling it is to observe how the IMCRC’s collaborative ecosystem fosters long-lasting alliances – with research organisations working together on new initiatives, as well as industry partners collaborating through complementary technologies and business models.
“I would like to thank our team and project partners for their trust and confidence in IMCRC. I am extremely proud to have worked alongside a group of people so dedicated and invested in the success of every project and the industry as a whole,” Chuter said.
