The Australian Government has announced a $158 million investment into innovation through the creation of three new Cooperative Research Centres (CRCs), a move welcomed by Cooperative Research Australia (CRA), the peak body representing the nation’s CRCs.
The funding, unveiled by the Minister for Industry and Science, Ed Husic, will support the establishment of the SMART CRC, Care Economy CRC, and Additive Manufacturing CRC—three initiatives focused on tackling critical national challenges through collaborative research and development.
Jane O’Dwyer, CEO of CRA, commended the successful teams, highlighting the competitive nature of the CRC Program and the significant commitment required from industry and research partners to participate.
“Bidding for a CRC is a demanding and intensely competitive process that requires a high degree of commitment and investment,” O’Dwyer said.
According to CRA, Round 25 of the program was especially competitive, with the selected CRCs drawing together over 220 partners across business and research sectors and unlocking close to $475 million in additional private-sector R&D investment.
The three new CRCs span diverse areas—advanced medical manufacturing, aged care technologies, and sustainable manufacturing solutions.
Despite the success of the latest round, O’Dwyer noted the limitations of the current program in capturing the full scope of collaborative potential between industry and research institutions.
“It is an Australian Government program that is remarkable for its impact and return on investment, particularly in stimulating business R&D (BERD),” she said, citing recent data showing that for every dollar invested by the government, CRCs return $5.61 to Australia’s GDP.
O’Dwyer further emphasised the role of CRCs in fostering economic diversification, job creation, and innovation.
“CRCs are key to driving long-term change, contributing to a more complex economy, creating new businesses, developing a highly skilled and entrepreneurial workforce, and bringing together business and research to solve complex and wicked problems,” she said.
The newly funded SMART CRC will focus on developing cures for diseases such as cancer, heart disease, and arthritis, aiming to ease the burden on Australia’s healthcare system.
The Care Economy CRC seeks to transform the care sector through innovative technologies and data-driven solutions, while the Additive Manufacturing CRC plans to build a sustainable manufacturing ecosystem across the country.
CRA is now calling for further expansion of the program to harness untapped potential across other critical sectors, aligning with the government’s broader R&D objectives.
Round 26 of the CRC Program is open for applications until 29 April 2025.
