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Major Australian Government funding for research and innovation

21 July 2009

The Australian Government has announced a funding allocation of $8.6 billion during 2009-10 for research and innovation – up 25 per cent on the previous year.

The Minister for Innovation, Industry, Science and Research, Kim Carr, said that the significantly increased investment gives immediate effect to ‘Powering Ideas: An Innovation Agenda for the 21st Century’, a ten-year strategy to lift Australia’s innovation capacity and performance.

In an address to the Committee for Economic Development of Australia, Mr Carr said that the increase in funding for innovation is the biggest on record.

He added that this strategy would improve the quality and impact of public sector research in Australia and increase the supply of skilled researchers, both for industry and academia.

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