The report covers key defence industry and innovation programs – such as the Next Generation Technologies Fund, the Defence Innovation Hub, and the Centre for Defence Industry Capability (CDIC).
Minister for Defence Industry Melissa Price said that over the course of 2018-19, over $120 million in research and innovation contracts were made out to industry, universities, and publicly funded research agencies. Of this, around $15 million was pegged to the Sovereign Industrial Capability Priority Grants, which has seen investment channelled into strategic, home-grown projects.
Another $2.3 million was earmarked for the Capability Improvement Grants.
The report showcases some of the innovative companies receiving funding through these programs, such as SYPAQ.
SYPAQ Systems, an innovative engineering company based in Victoria, has won eight Defence Innovation Hub contracts to date worth over $10 million to develop a range of sophisticated new technologies.
In 2018-19, the Next Generation Technologies Fund facilitated first-time collaborations between Defence, industry and academia. New research agreements were established with:
- 14 Australian universities;
- Six industry partners;
- One Australian Defence Science University Network; and
- One Cooperative Research Centre.
The report also highlights the range of activities conducted by the CDIC in 2018-19 to build industry capability and connect businesses with Defence. This includes the:
- CDIC defence business advisory services;
- CDIC defence industry facilitation services;
- Outreach and education program; and
- Administration of five defence industry grant programs.
"Three years on, the government’s $1.6 billion investment in these programs is enhancing Defence capability by unlocking the creative potential of Australia’s industry and innovation sector," Minister Price said.