"Industry welcomes the Government's announcement today to establish the Advanced Capabilities Investment Fund," said Innes Willox, Chief Executive of the national employer association, Australian Industry Group.
"As our strategic circumstances become increasingly challenging, the pressure on Australia's defence industry to deliver is real and growing. Bringing private capital into the picture alongside Government investment is a practical and necessary response.
"For Australian businesses developing the technologies Defence needs – in areas like cyber, artificial intelligence, quantum and undersea warfare – access to capital has long been a constraint. These are also the capability areas central to our AUKUS commitments, so investment here strengthens both our sovereign industry base and our value as a strong international partner. This fund has the potential to help more Australian companies get to scale and compete on the global stage.
"With significant investment already flowing across shipbuilding, guided weapons and uncrewed systems, the Advanced Capabilities Investment Fund adds an important new lever. As we look forward to the release of the latest National Defence Strategy and the Defence Industry Development Strategy, this fund signals to industry and investors the potential for sustained, long-term commitments.
"Australian Industry Group welcomes the opportunity to work with Government in developing the concept and business model further. We and our members stand ready to engage as the details are progressed," Mr Willox said.
