Three New Cooperative Research Centres Supercharge Australian Innovation

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Image Credit: crca.asn.au
Media Release

The Cooperative Research Centres Association today welcomed the announcement by the Minister for Industry, Science and Technology, the Hon Christian Porter, of three new Cooperative Research Centres.

The new centres, Digital Finance CRC, Heavy Industry Low Carbon Transition (HILT) CRC and Marine Bioproducts CRC, have been funded under Round 22 of the Cooperative Research Centres Program, which marks its 30thAnniversary this year.

They represent a collective investment of $664.6 million, leveraging some $158 million Australian Government investment with funding from both industry and universities.

“Industry-led cooperative research enabled through the Cooperative Research Centres Program is an Australian success story, translating research into action,” said CRC Association CEO Jane O’Dwyer.

“The program has a 30-year track record of bringing together industry, research institutions and government to collaborate in a way that delivers results.

“We know that for every dollar invested by government in collaborative research through the program, some three times the value is returned, generating more than $14 billion in direct economic benefits to the nation from CRC produced technologies, products and processes since the program was founded.

“This has translated into new Australian industries, new Australian businesses and new Australian jobs,” she said.

“A huge congratulations must go to our newest CRC’s. The field was incredibly strong, and all five of the bids that went through to the final round were excellent.

“Our newest CRCs give Australia a boost in tackling some of the most crucial transitions to a low carbon future, growing new marine bioproducts industries and the digital transformation of financial markets. They represent the absolute best of research and industry working together.

“They will supercharge Australian innovation and create new opportunities and jobs for Australians.”