The Albanese Government knows how vital Australian industry is to our economy and sovereign capability.
Australian universities play such an important role in developing cutting edge technology which has helped Australian industry grow and create opportunities.
Applications for Industry PhD scholarships have opened today for candidates wanting to complete their PhD on challenges faced by Australian industry.
The National Industry PhD Program is part of a $296 million government initiative to build a foundation of research talent skilled in university-industry collaboration and harness the world-class research Australian universities are known for.
The first round of applications will provide around 26 PhDs, with an additional 44 being offered in the second round later this year, as part of a total of 1800 funded over 10 years through new industry PhD programs.
Assistant Minister Chisholm said there were many benefits to universities working with industry.
"Using the talent and skills of the Australian universities and applying it to the challenges and opportunities of industry, we can make advancements that will benefit all Australians and contribute to a stronger, more resilient, and productive economy," Assistant Minister Chisholm said.
"Modelling shows the potential for $10.6 billion in revenue for business, and a return on investment of $4.50 for every dollar invested in collaborative research with a university.
"This will add $26.5 billion to the Australian economy and support more than 38,000 full-time jobs - a more diversified workforce and opportunities for Australians.
"$36 billion per year is spent on research across the public and private sectors so it is critical that Government continues to work together with universities and industries to seize opportunities and commercialise ideas and technology.
"These scholarships will produce ideas which will cultivate the next generation of researchers, jobs, and advances to industry and Australia."
