Minister for Defence Industry, the Hon Melissa Price MP, today announced the release of the 2018-19 Defence Industry and Innovation Programs Annual Report.
The Report provides details of the progress and achievements of the Coalition Government’s key Defence industry and innovation programs.
Minister Price said over $120 million in research and innovation contracts were awarded to industry, universities, and publicly funded research agencies during the year.
Australian businesses also received over $15 million in Sovereign Industrial Capability Priority grants and $2.3 million in Capability Improvement grants.
“Three years on, the Government’s $1.6 billion investment in these programs is enhancing Defence capability by unlocking the creative potential of Australia’s industry and innovation sector,” Minister Price said.
“Importantly, our investments through the Defence Innovation Hub have created more than 200 Australian jobs since the program’s launch in 2016.
“I am encouraged to see how Australian businesses, particularly small businesses, are thriving, innovating and delivering state of the art technologies.”