Research Australia’s submission to the Independent Review of the NRFC Act emphasises the importance of the NRFC’s role in enhancing Australia’s sovereign capability, productivity, and economic resilience. It also advocates for greater coordination across the research, innovation and commercialisation ecosystem.
Research Australia argues that the NRFC should address market failure by providing patient capital to bridge the “valley of death” between research and commercialisation and crowd in private investment. It calls for stronger alignment between the NRFC, MRFF, NHMRC and broader national research and industry strategies, alongside improved coordination across government portfolios.
The submission advocates flexible financing and co-investment models that combine government, industry and philanthropic capital, particularly for health and medical innovation. It also calls for clearer measures of impact beyond financial returns, including health, productivity and sovereign capability, and stronger institutional support for translating Australian research into commercially viable products and services.
You can read our full submission here.
