The Australian government has boosted the science and technology sector by earmarking AU$9 billion in funds to the industry. The funds will go towards improving space infrastructure, R&D, Innovation Games and digital transformation in the country. In his budget speech, the Australian Treasurer said that the government was backing the industries of the future. The Australian Civil Space Strategy will receive AU$19.5 million over four years. It’s intended for the acceleration of the country’s space industry by setting up a Space Infrastructure Fund. The Minister for Science and Technology said that the money would triple the size of the space sector and increase the job opportunities to 30,000 by 2030.
Part of the funds, AU$2million, will go towards capacity building in South Wales. There, much will get done in regards to the development of high-tech skills and new space objects. AU$6 will go towards the building of a Mission Control Center in South Australia. The control center aims at developing a platform for SMEs and research institutions to take charge of small satellite missions, enabling real-time control, and monitoring the progress in the development of the country’s satellite technology. An additional AU$3.6 million will go towards the trial launch of the Innovation Games within the next two years. There is an expected total of 30 Innovation Games to take place across Australia in the course of the testing period.
The budget document further states that the Innovation Games will bring SMEs and students together to solve real-life business issues. Corporate sponsorship will bring businesses and students together and provide a platform where they can work to find innovative solutions to technological and digital challenges. While at it, the Innovation Games will improve the relationship between educational institutions and businesses that will consequently, broaden the employment prospects for graduates and students.
In order to bridge the skills gap, the government will inject AU15.1 million to the expansion of Questacon, a Canberra-based Science and Technology Centre. The expense of the organizations under the Department of Industry, Innovation, and Science will also get a boost by a 27 percent increase over the next year. Further, the government also intends to support major science initiatives. The Australian Nuclear Science and Technology Organization will receive AU$56.4 million over three years to advance their capacity in the development of nuclear medicine. The University of Melbourne will receive five million dollars meant for the construction of an underground laboratory that will advance the research of dark matter.
However, the enacting of the budget is one aspect yet to be seen.
