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Federal budget for 2022: funds for commercialization of science are welcome, dollars are needed for opening

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Australia’s science and technology welcomes new investment in the commercialization of research in the 2022 budget, and at the same time calls for deeper investment in the science of discovery to ensure our research for decades to come and Australia’s long-term security and prosperity.

Expanding tax breaks for Australian clean energy companies on land – strongly supported by the STA – is great news.

The $ 2 million investment to expand Australia’s “Superstars of STEM” program for another four years will help deepen the various role models for women in STEM.

Science and Technology Australian President Professor Mark Hutchinson has said new investments in science and technology will help turn more outstanding Australian research into jobs.

“Increasing the commercialization of science and technology is crucial for our country – and these investments, which have long been defended by the science and technology sector, will be important for prosperity,” he said.

“The next challenge is to deepen our country’s investment in major discoveries and the science of the blue sky – to make major research breakthroughs that could catapult Australia’s capabilities.”

“Extending the budget benefits of the Patent Box to low-emission and technological technologies in this budget will help encourage terrestrial production of technologies with a transition to climate change – and this is a smart step, which is constantly advocated by science and technology in Australia.”

“The scale of the problem of climate change for humanity is sober – the serious security risks posed by climate change will mean more floods, forest fires, cyclones, storms and droughts on a scale never before.”

“Science will be our lifeline as we face all these threats – and further deep investment in Australia’s transition strategy is needed over the next year.”

The country’s highest body, representing more than 90,000 scientists and technologists, thanked the government for its investment in the Superstars of STEM program for another four years.

“Superstars of STEM is a game-changing program to transform the visibility of different role models for women and inspire girls to study and pursue a career in STEM.”

STA is pleased to see further investment in this budget in Indigenous Ranger programs – supporting the in-depth scientific and engineering knowledge of Australia’s first scientists.

Media contact: Martin Pierce, STA: 0432 606 828

The main budgetary measures for science and technology in the budget for 2022 include:

  • $ 505.2 million over five years from 2021 to 2022 (and, most importantly, about $ 182.3 million now) to create an Australian economic accelerator to support university research projects before testing the concept and validating the scale.
  • $ 295.2 million over five years from 2021 to 2022 ($ 142.8 million per year) to create new learning pathways for students and researchers in PhDs and industry scholarships
  • $ 150 million in equity funding over five years from 2021-2022 to expand the CSIRO Innovation Fund (Main Sequence Ventures)
  • $ 37.4 million over four years from 2022 to 2023 to create the CSIRO Research Translation Start program to build entrepreneurial skills in researchers.
  • $ 5.3 million over two years to support the government’s scientific and technical advice through the National Science and Technology Council
  • $ 4.7 million over 4 years from 2022 to 2023 to support Women’s Ambassador at STEM and Future You
  • $ 2 million over four years from 2021-2022 to expand the Australian program “Superstars of STEM” in science and technology to create a profile of women in STEM
  • Extension of the preferential tax rate in the Patent Box of 17% on low-emission technologies.
  • $ 839.2 million for East Antarctic exploration.

https://scienceandtechnologyaustralia.org.au/2022-federal-budget-science-commercialisation-funds-welcome-discovery-dollars-needed-next/

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