See also the related expense measure titled 175% Premium Rate - R&D Tax Concession, and the related revenue measure titled Backing Australia’s Ability - 125% Effective Write-off for R&D Plant in the Treasury portfolio.
The Government will increase support for the Cooperative Research Centres program (CRC) by providing $227.0m over 5 years. The expansion in funding will allow an increased number of Centres, larger grants for each Centre, enhanced opportunities for small to medium enterprises (SMEs) to participate, and increased collaboration with international research networks. The program aims to maximise economic and social benefits of publicly funded research and development through formal, long-term arrangements between industry, university and research agencies.
The CRCs play an important role in the Australian innovation system by bringing together researchers and research users, and linking research directly to industry and other national needs. They also train researchers in the skills needed to commercialise research and produce innovative business outcomes.
