Minister for Industry and Science, Ed Husic, admits that some projects could have their funding rescinded as the federal government reviews funding for critical technologies used in manufacturing.
Businesses, researchers and the broader community will be able to provide feedback on the List of Critical Technologies in the National Interest. The aim is to clarify which technologies are, or have the potential to become, critical for Australia in the next decade.
“We know the development of critical technologies present enormous potential opportunities as well as risks for Australians,” minister for Industry and Science Ed Husic said.
“It is vital we understand and send a clear signal about what technologies we should be focusing on and where our strengths lie – and that is exactly what this consultation is all about.”
In response to questioning from ABC Radio on Monday, Husic said the government’s review could mean some projects will face the risk of losing their allocated funding.
“We’re going through the review and we’ll make a decision,” he told ABC Radio. “It is a very big call to take money off the table for industries and businesses that have factored that in.”
By identifying technologies that will play a vital role in Australia’s national industrial and scientific progress, the List forms the basis for further discussions around investment and collaboration.
“This work is also part of our goal to reach 1.2 million tech jobs by 2030, as well as securing our supply chains and promoting Australia as a secure destination of excellence for investment, development and adoption of critical technologies,” Husic said.
“The government is also investing $1 billion in critical technologies as part of the National Reconstruction Fund, to build our strategic capability and power the economic growth we need to create jobs.”
The 2022 List of Critical Technologies in the National Interest will build on the 2021 List, which featured 63 technologies across seven categories:
- Advanced materials and manufacturing;
- AI, computing and communications;
- Biotechnology, gene technology and vaccines;
- Energy and environment;
- Quantum;
- Sensing, timing and navigation; and
- Transportation, robotics and space.
The consultation will run for six weeks and close on 30 September. To learn more or to participate, click here.