In its 2016/17 Budget, the NSW Government announced $13.8 million funding to support innovation and investment in the State's research and development capacity under the new Research Attraction and Acceleration Program (RAAP).
A strong research and development capability is a critical driver for innovation in the State's economy. Building, supporting and attracting high-technology industry and growing a highly skilled workforce are all factors that underpin productivity growth.
Investment by Government, industry and individuals in R&D has long-term benefits, which include higher standards of living, economic prosperity, improved social and physical infrastructure and the generation of further knowledge, discoveries and services.
By enabling a targeted investment and stronger partner links, the RAAP aims to give NSW a greater role in the future of key national research development and infrastructure and contribute to jobs creation in the State.
CSIRO Solar Thermal Project, CSIRO Newcastle