Defence programs achieve results in driving growth in defence industry and innovation
The first Defence Industry and Innovation Programs Update Report, covering the Defence Innovation Hub, Next Generation Technologies Fund and Centre for Defence Industry Capability (CDIC), was released today showing these initiatives are successfully advancing Defence's capability and growing Australian industry.
Minister for Defence Industry, the Hon Christopher Pyne MP, today congratulated the programs.
"In the first year alone, these programs are already delivering substantial results for Defence capability and Australian industry," he said.
- The Defence Innovation Hub received over 390 innovation proposals and awarded more than $53.5 million in contracts aligned to Defence's strategic priorities for innovation investment.
- The Next Generation Technologies Fund has deepened Defence research partnerships across Australia, receiving more than 800 proposals, funding collaborations with more than 40 companies, universities and publicly-funded research organisations, and committing more than $110 million to research programs in the coming years.
- The CDIC's advisor network has assisted over 750 businesses, with 75 per cent of those accessing tailored advisory services new to doing business with Defence.
"Through close collaboration, Defence, industry, and research organisations are delivering a strong, sustainable and innovative local industry which can meet Defence's future research and capability needs," Minister Pyne said.
"These programs represent a $1.6 billion commitment by the Government to harness the innovation and export potential of Australia's defence industry in support of Defence capability and I look forward to the continued success over the next decade," Minister Pyne said.
To find out more about the programs and to view the update report visit: www.business.gov.au/CDIC/DII-update-2017