New South Wales universities welcome historic investment in scientific research, innovation and technology development

Sydney, Tuesday 21 June 2022

The NSW Vice-Chancellors Committee (NSW VCC) has welcomed the NSW Government’s historic investment of $832.7 million in scientific research, innovation and technology development, announced today as part of the NSW budget 2022-2023.

Announcement includes $703.4 million investment to establish Future Economy Fund to accelerate R&D and commercialization opportunities across the state, building on innovative action plan government in R&D.

NSW VCC organizer Professor Barney Glover AO praised the NSW Government for its groundbreaking investment in R&D and commercialization.

“NSW VCC and universities look forward to working with government and industry on implementing these substantial investments to boost research and development and build NSW’s future economy,” said Professor Glover.

“This landmark funding is critical to sustaining NSW’s social and economic prosperity and translating our collective research strengths to achieve real impact in the communities we serve.”

Professor Glover highlighted the importance of this commitment as the NSW government’s single largest investment in R&D, innovation and commercialization.

This follows the recent announcement of major funding for two new facilities – the Sydney Biomedical Accelerator Complex at Camperdown and the Viral Vector Manufacturing Facility at Westmead, as well as the Advanced Manufacturing Research Facility.

“Scientific research, innovation and technology development are essential to creating a workforce and communities that can engage, lead, inspire and provide solutions to realize the full potential of NSW and the nation,” Prof Glover added.

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