Every dollar invested by the Australian Research Council in university research over the last two decades contributed more than $3 to the economy, according to a new evaluation of grant funding.
The report into the impact and economic return of the National Competitive Grants Program (NCGP) was released on Tuesday, showing “significant and diverse benefits” resulting from funding dispensed by the ARC between 2002 and 2021.
It also shows that the direct benefits of the grants awarded, in terms of GDP and employment, are poised to “continue into the future”, adding billions of dollars to the country’s economy until at least 2046.
Want to know how this story ends?
Become a subscriber for complete access to all stories on InnovationAus.com and our daily newsletter.
Do you know more? Contact James Riley via Email.