THE HON. GREG COMBET AM MP
Minister for Defence Materiel and Science
Friday, 25 June 2010
077/2010
Priority Industry Capability Innovation Program
Greg Combet, Minister for Defence Materiel and Science, today announced
the establishment of the Priority Industry Capability Innovation Program.
“The new $45 million Priority Industry Capability (PIC) Innovation Program will
provide more direct and practical programs to Australian defence industry,
particularly SMEs, for PIC related activities,” Mr Combet said.
“This is a fantastic program that will build strong Australian industry
capabilities in our most important strategic areas.
“This new program will also benefit the Australian Defence Force which relies
on a strong and innovative defence industry sector.
“Under the PIC Innovation Program, companies will be encouraged to submit
to Defence innovative proposals, relating to one or more PICs, to Defence for
direct funding.
“To attract funding, proposals must clearly support one or more PICs and
must have good prospects for driving additional work in Australian industry or
provide cost savings for future Defence contracts.
“Funding provided under the PIC Innovation Program will be in the form of a
contractual arrangement with the company, and will be limited to $3 million to
$4 million in any one instance.”
Defence will develop a set of guidelines for the operation of this program in
time for the first annual funding round in late 2010.
The new Defence Industry Innovation Board will oversee the PIC Innovation
Program and advise Defence and the Government on appropriate resource
allocation under the program.
Further details of the Program can be found in Building Defence Capability.
Media contacts:
Rod Hilton (Greg Combet):
02 6277 7620 or 0458 276 619
Defence Media Liaison:
02 6127 1999 or 0408 498 664
NEWS 
