Industry-Sponsored Research Week

Australia’s $617 million funding initiative to support university-industry linkage

By David Schwartz
Published: June 30th, 2020

Australia’s Minister for Education Dan Tehan last week invited the country’s university vice-chancellors to work with the government to design a $AUD 900 million ($USD 617 million)  industry linkage fund that will support universities and industry working together, with a primary focus on STEM fields.

The National Priorities and Industry Linkage Fund will look to develop internships and practicums between universities and industry that revolve around STEM-related work. Tehan says he’s seeking nominations for a panel of individuals who can help design how the fund will operate, including the development of performance-based metrics, such as:

  • increasing the number of internships and practicums;
  • increasing the number of STEM graduates and improving their employment outcomes; and
  • rewarding formal research partnerships and advanced apprenticeships with industry.

“To ensure that more money will go into science and math courses we will establish the $900 million Industry Linkage Fund, which places a strong focus on encouraging universities to partner with STEM industries. We have also guaranteed the base funding for every university through the creation of a $705 (AUD) million transition fund from 2021 to 2023,” Tehan stated.

“Our Government is creating an additional 100,000 university places over the next decade, and we want to work with universities and industry to ensure that domestic students get the skills and experience to become job-ready graduates.”

Source: The National Tribune

Posted under: University-Industry Engagement Week

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