Collaboration between industry and research is vital. We know that unlocking the commercial value of Australian research will result in world-first, new-to-market innovation and new internationally competitive businesses. Cooperative Research Centres (CRCs) are an excellent, longstanding example of how industry and researchers can work together to create these growth opportunities.
The CRC Programme supports industry-led collaborations between researchers, industry and the community. It is a proven model for linking researchers with industry to focus research and development efforts on progress towards commercialisation.
Importantly, CRCs also produce graduates with hands-on industry experience to help create a highly skilled workforce. The CRC Programme has been running for more than 25 years and has been extremely successful.
Since it began in 1990, more than $4 billion in funding has been committed to support the establishment of 216 CRCs and 28 CRC Projects. Participants have committed an additional $12.6 billion in cash and in-kind contributions.
CRCs have developed important new technologies, products and services to solve industry problems and improve the competitiveness, productivity and sustainability of Australian industries. The programme has produced numerous success stories; far too many for me to mention here. A few examples include the development of dressings to deliver adult stem cells to wounds; creating technology to increase the number of greenfields mineral discoveries; and spearheading a world-leading method for cleaning up the potentially toxic chemicals found in fire-fighting foams.
These examples demonstrate not just the breadth of work being done by the CRCs, but also the positive benefits they are delivering.
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Senator the Hon Arthur Sinodinos AO is the Minister for Industry, Innovation and Science in the Australian Government.