Priority Industry Capability Innovation Program

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25th June 2010, 01:30pm - Views: 751

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Minister for Defence Materiel and Science

Friday, 25 June 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

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