The Federal Government has allocated nearly $460 million in additional funding for the CSIRO, taking its total investment in CSIRO to $3.8 billion over the next four years.
Minister for Industry, Science and Technology Karen Andrews, who visited CSIRO’s Black Mountain site on Friday, said the extra injection of funding in the 2020-21 Budget would address the impacts of COVID-19 on CSIRO’s commercial activities to ensure science and technology work for industry – a key pillar of the Government’s $1.5 billion Modern Manufacturing Strategy.
“CSIRO plays a vitally important role working with businesses to create new products and services and we want to back that crucial collaboration to turbo-charge job creation – both now and for our future,” Minister Andrews said.
“This investment in CSIRO proves the value our Government places on the contribution of Australia’s premier research body to the nation’s economy.
“Combined with our Modern Manufacturing Strategy, this increased funding for CSIRO will help make our businesses more resilient and able to scale up to take on the world – creating the jobs we need.”
CSIRO Chief Executive Dr Larry Marshall said science would continue to support Australia’s economic recovery from the COVID-19 pandemic.
“More than ever, science and technology are vital to driving Australia’s recovery and building future resilience,” Dr Marshall said.
“Now is the time to lean in to Australian innovation – to support local businesses to grow, create jobs and turn science into solutions. We have an opportunity to determine the new kind of Australia we want to emerge from this crisis.”