The NSW Government has pledged $13 million to boost the state's research and development capacity.
The funding, first announced last year but confirmed in today's state budget, will drive investment in innovative research projects through the Research Attraction and Acceleration Program (RAAP).
The RAAP combines and refocuses the Science Leveraging Fund (SLF) and the state's contribution to National ICT Australia (NICTA), the nation's leading research institution for information and communications technology.
NSW Chief Scientist & Engineer, Professor Mary O'Kane, said the RAAP will build on the success of previous funding initiatives.
"Continued investment in research and development, be it by government, private enterprise or individuals, will have enormous long-term benefits for NSW – because a strong R&D capability is a critical driver for innovation in the state's economy," Professor O'Kane said.
"Those benefits include higher living standards, economic prosperity, improved social and physical infrastructure, and the generation of further knowledge.
"By working in close partnership with the tertiary education and private sectors, the RAAP will advance key research programs and infrastructure initiatives.
"The program will also build, support and attract high-tech industry to NSW, as well as grow a highly-skilled workforce, which play an important part in underpinning productivity growth," Professor O'Kane said.
The RAAP enables targeted research and development investment and builds stronger partnerships between research groups and benefactors – allowing NSW to play a greater role in the future of key national research and infrastructure development, and contributing to jobs creations in the state.