The NSW Government has invested over $117 million into scientific research and technological development (R&D) to improve vital infrastructure and equipment that will support the state’s world-leading scientists and innovators. 

Treasurer Matt Kean said the Innovation Research Acceleration Program (IRAP) is part of the landmark Future Economy Fund, which was announced in the 2022-23 NSW Budget. 

“The world’s biggest companies started with a simple idea, and this R&D acceleration program will help unlock opportunities, foster innovation and kickstart businesses that will create the industries and jobs of the future,” Treasurer Kean said. 

“The Future Economy Fund will make strategic interventions and investments across the business life cycle, and the IRAP targets the critical first stage.” 

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The IRAP will be funded by the Infrastructure Build Out Program, a $31 million one-year program supporting shared research and innovation infrastructure, and the NCRIS Support Program, an $86 million four-year fund for NSW research facilities supported by the Commonwealth’s National Collaborative Research Infrastructure Strategy (NCRIS). 

These two programs will help in boosting research capability and capacity across areas including microscopy, nanofabrication, bioplatforms and imaging, as well as bring more innovation for NSW’s 20-year R&D Roadmap. 

Minister for Science, Innovation and Technology Alister Henskens said NSW is home to world-class research institutions and expertise and this investment would unlock more opportunities to tap into our leading human capital and infrastructure. 

“Research and innovation infrastructure, including high-tech facilities and equipment, underpins the State’s ability to turn R&D into real commercial outcomes, jobs and new industries,” Minister Henskens said. 

 “Often such equipment and expertise is expensive or unattainable for many research organisations and companies. The IRAP is designed to enable the delivery of, and equitable access to, essential research and innovation infrastructure.” 

Minister Henskens states that more innovative ideas will be given the support and access needed to develop. 

“[Which] in turn will help grow our economy and secure NSW’s position as Australia’s innovation engine room,” he said. 

Source: NSW Government media release. Content has been edited for style and length. 

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.

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