The Liberal National Government is creating significant new economic opportunities for Australians by strengthening the relationship between researchers and industry.

Minister for Industry, Science and Technology Karen Andrews said the latest National Survey of Research Commercialisation results show a dramatic increase in activity since the Coalition has been in government.

There were more than 18,000 research contracts and collaborations in 2016, generating income of over $1.9 billion.

“There has been a 64 per cent increase in research contracts and collaborations and an additional $513 million in income generated from when the Coalition came into government,” Minister Andrews said.

“These results tell a story of our world class research organisations working alongside industry to translate great ideas into real world outcomes and create more Australian jobs.

“Australia has a strong track record of research successes and our technological breakthroughs have transformed everyday life, including CSIRO’s Wi-Fi technology and the world's first cervical cancer vaccines, Gardasil and Cervarix.

“Our Accelerating Commercialisation and Incubator Support grants, as well as the Biomedical Translation Fund, are some examples of the Liberal National Government’s commitment to taking bold ideas and developing them into realities that benefit all Australians.”

The Liberal National Government invested an additional $2.4 billion towards Australia’s science, research and technology capabilities in the 2018-19 Budget and we are increasing funding to our research agencies like CSIRO over the next four years.

Now in its 16^th year, the National Survey of Research Commercialisation tracks knowledge exchange activities in Australia’s public research system by assessing universities, medical research institutes and publicly funded research agencies.

The data is available at www.industry.gov.au/data-and-publications/national-survey-of-research-commercialisation-nsrc

Media contact: Minister Andrews' office 02 6277 7070