STEM, start-ups, R&D to benefit from Federal Budget

The 2020-2021 Federal Budget is banking on R&D and STEM skills to speed Australia’s recovery post-pandemic, with billions of dollars in funding to research institutions, organisations and initiatives; incentives for entrepreneurial women; significant investment in those seeking to enter or upskill in STEM professions and more.

Budget boosts for research, development and STEM

R&D-focused and STEM-friendly Budget measures include:

Funding injection for STEM education and female-founded start-ups

Significant allocations were also made in the 2020 Budget for those seeking careers in the STEM – science, technology, engineering and maths – professions, and for women entrepreneurs. These included:

  • $35.9m over five years for the Boosting Female Founders initiative, supporting start-ups founded by women;
  • $25.1m over five years from 2020-2021 FY to upskill women in STEM, via the creation of a Women in STEM Industry Cadetship program; and
  • $27m to fund curriculum resources and STEM education for primary and high-school students, funding the next generation of science-technology-engineering-and-maths-based professionals.

More information

Read ‘Research revival a step towards STEM-smart recovery’ (National Tribune)

View the 2020-2021 Federal Budget.