Donald Trump's offensive on top US universities could create a golden opportunity for Australia to become a world leader.
The US president has stripped billions in grant money from Harvard University, claiming it is a hotbed of anti-Semitism after the school pushed back on his administration's demands for changes to its leadership, governance and admissions policies.
Millions more has been slashed from other institutions and Australia - as the US's largest research partner - has found itself in the crossfire, with up to $386 million at risk according to Australian Academy of Science estimates.
But it could also present a chance for Australia, says UNSW professor Richard Holden and Australian National University former vice-chancellor Brian Schmidt.
"What's happening to us - research and researchers - is shocking," Professor Holden told the National Press Club on Wednesday.
"But this act of American self-harm is our opportunity and it's an opportunity that has never arisen before and may never arise again.
"With the US stepping back from its leadership role, Australia has a chance to step up."
As US researchers look to move their labs, families and lives abroad, Australia could become an attractive destination.
Prof Holden acknowledged bringing researchers Down Under would be an expensive endeavour, particularly as many universities take a scalpel to their bottom line, but he maintained it was a "once-in-a-generation moment" that should be seized.
Otherwise, Australia's steadily decreasing investment in research and development could have "enormous" consequences for the future, Professor Schmidt warned.
"I look around and I'm actually scared," he told the press club.
Australia's government investment in sovereign research capability was a third higher 15 years ago relative to GDP.
As a result of steady, bipartisan disinvestment, institutions have become "addicted" to funding research through international student income even as the federal government tries to cut their numbers.
Prof Schmidt also pointed to China as a warning of what could happen if Australia did not boost research spending.
While Australia's research and development spending has steadily declined, Beijing's has surged, increasing by 8.3 per cent in 2024 alone.
The benefits of this research were yet to occur, Prof Schmidt said, but it remained the "smart thing to do".
"I want you to think about what their increase and our decrease means for Australia's future and economic and security environment," he said.
"We're going to either be left behind or we're going to pedal hard and go along side-by-side with them.
"It's our choice, our destiny."
