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The Latest Breaking News from National Reconstruction Fund

University spin-outs should not be an NRF focus: Dalidakis

Technology companies that are spun-out from deep-pocketed universities should not be an investment focus for the National Reconstruction Fund, according to former Victorian minister for small business, innovation and trade, Philip Dalidakis. Top tier universities have significant balance sheets and their researchers already have access to significant funding through other…

InnovationAus

Husic unveils NRF board, taps clean energy veteran as chair

Former Clean Energy Finance Corporation director Martijn Wilder will chair the eight-member board of the Albanese government's $15 billion National Reconstruction Fund. Industry and Science minister Ed Husic announced the board on Wednesday, appointing directors with expertise across the seven industry priority areas of the National Reconstruction Fund (NRF). Both…

InnovationAus

A war chest emerges for the re-industrialisation of Australia

With Australia now set on a path of intensive re-industrialisation and tens of billions of targeted investment dollars being readied for deployment, attention has turned to identifying areas of specific Australian capability. The $15 billion National Reconstruction Fund and the re-aligned Industry Growth Program – unveiled in the May federal…

InnovationAus

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Victoria’s new $15m R&D grants scheme opens

Victoria’s new R&D grants scheme has opened for expressions of interest, allowing local businesses to apply for up to $2 million in matched funding for projects that build capability in key industry sectors. The Industry R&D Infrastructure Fund was created as a new stream under the Victorian Jobs and Investment…

InnovationAus

$50m in CRC grants for quantum, turbines and chicken research

Chicken breeding, quantum computing and wind turbine recycling are among 24 projects sharing in $50 million of funding from the federal government’s long running industry led research program. To be announced Friday by Science and Industry minister Ed Husic, the funding comes from the 14th round of the Cooperative Research…

InnovationAus

$392m Industry Growth Program opens for consultation

The Albanese government has opened the consultation process on a new $392 million Industry Growth Program, a new early-stage commercialisation initiative to bridge the ‘valley of death’ facing young SMEs working on innovative projects that align with the National Reconstruction Fund. Industry minister Ed Husic on Wednesday released a discussion paper…

InnovationAus

Resources minister eyes dramatic scale up of offshore CCS

The federal government will develop a regulatory framework for carbon, capture, and storage projects as Resources minister Madeleine King reiterates her backing of the technology. Ms King said there is “scope to dramatically scale up Australia’s offshore CCS capability” and flagged that the federal government is committed to “examining opportunities…

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Early-stage commercialisation package backed by industry

A $390 million early-stage commercialisation initiative designed to ready homegrown SMEs and startups for future investment through the $15 billion National Reconstruction Fund has been widely praised by industry. Treasurer Jim Chalmers handed down his second Budget on Tuesday night, revealing $392.4 million for a new Industry Growth Program that…

InnovationAus

Budget 2023: Innovation and tech measures in a 10-minute update

There was plenty to like for innovation and technology in Treasurer Jim Chalmers’ second budget, the centrepiece of which was a $392 million Industry Growth Program aimed at building a pipeline of Australian businesses that are investment-ready for flagship $15 billion National Reconstruction Fund. InnovationAus.com had four reporters in the…

InnovationAus

Chalmers stumps up $392m for new Industry Growth Program

Measures to ease cost of living pressures and new investment in Medicare and the care economy will grab the first cut of headlines from Jim Chalmers second federal budget, but the Treasurer clearly has one eye on the future, outlining a series of hefty industrial development commitments. Australia’s biggest opportunity…

InnovationAus

Translation nation: Australia’s first quantum strategy launches

After decades of investment in the fundamental research underpinning the burgeoning quantum technology sector, the federal government has unveiled Australia’s first National Quantum Strategy to accelerate the translation of research to commercial and social return. To be launched by Industry and Science minister Ed Husic in Canberra on Wednesday, the…

InnovationAus

3 ways to help the $15 billion National Reconstruction Fund revive manufacturing

Australia’s federal parliament has approved a A$15 billion National Reconstruction Fund, intended to reverse the nation’s dwindling manufacturing sector. It is the “first step” in Prime Minister Anthony Albanese’s election promise “to revive our ability to make world-class products”.

The Conversation

Defence, space and the drive toward national self-reliance

Debates about the notional definition of sovereign capability has entered mainstream policy debates over the past two years. The impact that Covid and the economic crisis that it wrought has had on supply chains highlights the importance of maintaining a sovereign capability in key strategic areas. There is a clear…

InnovationAus

Take a moment: It’s been a huge week for Australian industrial policy

Ed Husic was in the Senate chamber late on Tuesday night to witness his signature National Reconstruction Fund bill pass, marking a touchstone moment for Australian industrial policy. The Industry and Science minister’s staff were all in the public gallery to share the moment, having been alerted to the imminent…

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Amended NRF ‘poses more questions than answers’: Sussan Ley

Deputy Opposition leader and Shadow Industry minister Sussan Ley argues the government’s claims about “saving manufacturing” are at a “complete disconnect” from the reality of the National Reconstruction Fund, which will not save firms from the high cost of energy. The Deputy Leader of the Opposition also highlighted that the…

InnovationAus

A ‘Future Made in Australia’ begins: Albanese

The government’s flagship industry policy passed the Parliament on Wednesday, locking in a $15 billion manufacturing fund Anthony Albanese says will deliver sovereign capabilities and a return for taxpayers. The returns generated by the National Reconstruction Fund (NRF) will mean it can continue to invest into manufacturing projects well beyond…

InnovationAus

$15bn NRF bill clears Senate with crossbench support

Labor’s flagship $15 billion National Reconstruction Fund can now be set up as enabling legislation passed the Senate late Tuesday evening following a debate in which 20 substantive amendments were voted on.With the support of the Greens secured before the bill passed through the House of Representatives, the government also…

InnovationAus

Pocock flags support for $15bn reconstruction fund

Independent Senator for the Australian Capital Territory David Pocock is set to support the National Reconstruction Fund bill, with the government and the Greens expected to back most of his proposed amendments. On Monday, Senator Pocock welcomed the establishment of the National Reconstruction Fund (NRF) but pushed for four amendments,…

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InnovationAus

National Quantum Strategy won’t be raining dollars

Federal Industry minister Ed Husic has dampened expectations of a big pool of new money being attached to the looming National Quantum Strategy, saying the government is taking a longer view of the emerging sector’s needs. It had taken years of patient investment to position Australia to be a recognised…

InnovationAus

Senate showdown for $15bn NRF

A Senate showdown looms for Industry Minister Ed Husic’s legislation to establish a $15 billion National Reconstruction Fund. He’ll meet with Senate crossbenchers next week after the bill passed the lower house on Thursday with a key Greens amendment. “We’ll negotiate with a whole range of people in the Senate,…

InnovationAus

Husic unconcerned about US Inflation Reduction Act competition

With the National Reconstruction Fund bill now having passed in the House of Representatives, Industry and Science minister Ed Husic is “quietly confident” that the $15 billion industrial plan will be legislated soon, giving local manufacturers a massive shot in the arm. The scale of the NRF would act as…

InnovationAus

Manufacturing boost: $15b NRF bill passes the House

The National Reconstruction Fund bill has passed the House of Representatives, the government supporting an amendment from the Greens that ban the $15 billion fund from investing in any projects that support coal and gas extraction.The government also supported an amendment from Teal independent Zoe Daniel that the NRF board…

InnovationAus

Mining giants split on carbon capture for NRF

The Minerals Council of Australia is at odds with Fortescue Metals Group in calling for the National Reconstruction Fund to support carbon capture and storage technology. Fortescue and its green hydrogen subsidiary Fortescue Future Industries have argued that the National Reconstruction Fund (NRF) should not support the development of carbon…

InnovationAus

PM confident reconstruction fund bill will pass

Prime Minister Anthony Albanese has told Parliament he is confident the National Reconstruction Fund bill will pass, describing the landmark reform as “one of the biggest ever investments in Australian manufacturing capacity”. In a speech on Tuesday, the Prime Minister said he is “confident that there are enough people who…

InnovationAus

Critical minerals commercialisation needs a national approach

Critical minerals have been placed front and centre in the new federal government’s economic plan. This week Prime Minister Anthony Albanese emphasised the need for Australia to capitalise on its wealth of access to these resources and to move along the critical minerals value chain in order to better compete…

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