The Australian Government established the Rural R&D for Profit Program comprising $100 million of new money available for profit enhancing research projects.
In order to qualify for the funding, project proposals will need to demonstrate collaboration between rural Research and Development Corporations and partners such as other funding agencies, experienced researchers, producer groups, and the private sector.
In nutshell, research must be practical, accessible to primary producers, and aimed at lifting farm productivity and profitability.
The Australian Bureau of Agricultural and Resource Economics and Sciences estimates that for each dollar the government invests in agricultural R&D, farmers will generate $12 within 10 years.
Detailed Rural R&D for Profit application information, including the timing of the first round of grants, is expected in the coming months.
If you are interested in finding out more information about this grant, please contact our office.
Click here to view the brochure: rural-research-and-development-for-profit.