Consultations on the National Reconstruction Fund (NRF) have now opened. AusBiotech is inviting members to join its roundtable discussion to have their say and shape the industry’s submission so it best meets the sector’s needs.
The NRF is a key initiative of the Australian Government’s 'A Future Made in Australia' policy, announced in October’s Federal Budget and passed through Parliament last month.
The $15 billion fund will co-invest in independently assessed projects that drive economic growth across seven priority areas and over seven years. This includes $1.5 billion in ‘medical science’ and $1 billion each for critical technologies and advanced manufacturing.
As the voice and champion of the life sciences sector, AusBiotech is developing a submission recommending the optimal design of the NRF to ensure a valuable return to Australia both economically and socially.
To ensure the submission best represents members’ views on how the funding should be allocated to best enable the translation of Australian biotech ideas, AusBiotech is holding an online roundtable on Wednesday 14 December and is inviting interested members to attend.
The key areas that our submission will include:
- Identifying the types of life sciences projects or investments industry believes the Government should direct the NRF to focus on;
- How industry ‘transformation’, ‘diversification’ and ‘value add’ be defined and measured for biotech;
- The manufacturing and other capabilities needed to support them;
- The gaps and barriers to private sector investment in biotech; and
- How the NRF can help build or encourage stronger pathways for Australian-developed innovation and research and encourage additional private investment.
The AusBiotech online roundtable will be conducted on Wednesday 14 December from 2.45pm – 4pm. To get involved and have your say, register your place today by contacting Karen Parr, Director Communications and Policy.