A new $150 million science and innovation fund has been announced to coordinate strategic investments in research and technology. Set to begin operations on July 1, 2027, the fund will initially co-invest with NSW public universities before expanding to support other organizations within the innovation ecosystem. The goal is to help promising research programs transition from laboratories to commercial markets.
The initiative responds to findings from an independent review of the state’s technology sector, which highlighted that NSW attracts 57 percent of all venture capital investment in Australia and generates significant economic value through innovative businesses. A new research innovation framework will also coordinate government equity holdings and strengthen capabilities within NSW Health. The fund aims to close gaps in the commercialization pipeline for deep tech, biomedical science, and environmental science by fostering stronger connections between researchers, industry, and investors.