2017-2018 Federal Budget Expert Analysis - R&D and innovation

Key points

  • Over $100 million will be contributed to the Advanced Manufacturing Fund to boost innovation, skills and employment in advanced manufacturing.

  • A 2030 Strategic Plan and a Research Infrastructure Investment Plan will be commissioned to guide future investment in innovation, science and research.

In an effort to boost advanced manufacturing:

  • $47.5 million will be contributed to a new Advanced Manufacturing Growth Fund to help industry adjust to the wind down of car manufacturing in Victoria and South Australia

  • $20 million has been committed under the Cooperative Research Centre – Projects initiative for large scale advanced manufacturing research projects

  • Small scale and pilot research projects will be supported to allow early stage researchers to accelerate larger scale research or commercialisation

  • Innovation Labs will be established in South Australia and Victoria to provide test centre facilities and business capability development

  • Investment will be made in student research to maintain engineering excellence.

The Government continues to commit resources to ensuring that Australia is positioned as a world leader in innovation.  The 2030 Strategic Plan will be developed by Innovation and Science Australia while the Research Infrastructure Investment Plan will be developed by Government in collaboration with Innovation and Science Australia, the Commonwealth Science Council and the broader community.