Transitioning NICTA to a self-sustainable model
13 May 2014
The Australian Government will maintain $84.9 million funding for National ICT Australia Ltd (NICTA) in the next two years as the organisation moves to a self-sustaining funding model.
The Department of Communications and the Australian Research Council will each contribute $21.4 million in 2014–15 and $21.0 million in 2015–16.
NICTA, Australia's Information Communications Technology Research Centre of Excellence, was established to increase the scale and quality of Australian ICT research and development. It builds new technology-focused start-ups and pursues high-impact research excellence to create wealth, jobs and benefit for Australians.
It also delivers approximately one quarter of Australia's ICT PhD students each year.
It was always expected that funding from the private sector would play an increasingly important role in supporting NICTA's operations.
NICTA's rapid recent growth in commercial revenue, through its partnerships with domestic and overseas firms, shows it can draw funding from a wider range of sources.
In recognition of NICTA's maturity and current stage of development, the Government considers the time is approaching for NICTA to stand on its own feet from June 2016.
The Government expects NICTA to pursue funding from private sector investment and research grants.
By making the right choices today, we are creating a stronger economy for tomorrow.
This is part of the Abbott Government's Economic Action Strategy to build a strong, prosperous economy for a safe and secure Australia.
David Bold, Office of Malcolm Turnbull MP, 0427 784 451