NSW universities welcome landmark investment in scientific research, innovation and technological development

New South Wales Vice-Chancellors’ Committee

Sydney, Tuesday 21 June 2022

The NSW Vice-Chancellors’ Committee (NSW VCC) has welcomed the NSW Government’s landmark investment of $832.7 million to scientific research, innovation and technological development as announced today as part of 2022-23 NSW Budget.

The announcement includes a $703.4 million investment to establish a Future Economy Fund, set to accelerate R&D and commercialisation opportunities across the State, building on the Government’s innovative R&D Action Plan.

Convener of the NSW VCC, Professor Barney Glover AO, congratulated the NSW Government for its ground-breaking investment in R&D and commercialisation.

“NSW VCC and universities look forward to working with the government and industry on the implementation of these substantial investments to boost research and development and build the future economy of NSW,” said Professor Glover.

“This landmark funding is critical to future-proofing the social and economic prosperity of NSW and translating our collective research strengths to achieve real impact for the communities we serve.”

Professor Glover highlighted the significance of the commitment as the single largest investment in R&D, innovation and commercialisation from the NSW Government.

This follows a recent announcement of significant funding of two new facilities – the Sydney Biomedical Accelerator Complex in Camperdown and the Viral Vector manufacturing facility at Westmead, as well as the Advanced Manufacturing Research Facility.

“Scientific research, innovation and technological development are critical in the creation of a workforce and communities that can engage, lead, inspire and deliver solutions to realise the full potential of NSW, and the nation,” added Professor Glover.

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