Research and Development Corporations (RDCs) and their industries will benefit from a new package of guidance documents.
Minister for Agriculture and Northern Australia David Littleproud said “RDCs are the cornerstone of our innovation system, and I want to make sure they continue to succeed into the future.”
Through our RDCs the Australian Government and primary producers co-invest in R&D to benefit industry and regional communities, and this has very real impacts on productivity.
“These guidance documents will help ensure the RDCs are accountable and demonstrate value to the levy payer and taxpayer, have transparent consultation, no duplication and drive commercialisation.
“The Guidelines for Statutory Funding Agreements outlines key performance indicators for each of the five performance principles relating to stakeholder engagement, research, development and extension activities, collaboration, governance and monitoring and evaluation.
“The Best Practice Guide to Stakeholder Consultation will inform a consultation plan for each RDC that is easily accessible by levy payers, and there will be tri-partite meetings between the RDC, industry and government. The consultation plans will continue to evolve.
“And the RDC Knowledge Transfer and Commercialisation Guide provides guidance for the management of technology commercialisation to assist driving commercialisation out of the RDCs and bring in extra funding from private sources.”
“RDCs will continue to provide positive outcomes for our farmers, fishers and foresters.
“Our RDC model is unique and held in high regard both in Australia and overseas. This package will mean that our RDCs will continue to succeed into the future.”
Fast Facts:
- There are 15 RDCs that are funded through levy funds and Commonwealth matching payments.
- The Australian Government provides over $300 million in matching contributions to the RDCs annually for R&D activities.
