A NSW Government website



A strong research and development (R&D) capability is a critical driver for the state's economy. Investment 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.

Future Economy Fund

In the 2022/23 NSW Budget, the NSW Government announced an unprecedented investment in scientific research, innovation and technological development with the creation of the Future Economy Fund.

The Future Economy Fund is NSW’s first dedicated fund to target the end-to-end stages of business growth – from R&D and commercialisation, through to industry growth, investment attraction and maturity.

Initiatives launched under the Future Economy Fund include the Innovation Research Acceleration Program and the Commercialisation Pathways Program.

Research Attraction and Acceleration Program

In 2022/23, the NSW Government allocated $10.2 million in funding to support innovation and investment in the state's R&D capacity through the Research Attraction and Acceleration Program (RAAP).

RAAP funding is primarily allocated through competitive grants rounds using a rigorous selection process and used to leverage funds from national and international bodies.

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 and research infrastructure, and to drive job creation in the state.

Facilities, programs and events supported by the RAAP are detailed in the menus below and include: