A landmark review of Australia’s R&D system has proposed overhauling university funding models to prioritise research impact over output volume, as it warns of growing pressure on university budgets.
The Strategic Examination of R&D (SERD) panel put forward the proposal in its latest issues paper, which also calls for the growth rate of grant funding to be linked to long-term GDP rather than CPI and for a national IP library.
The panel has already flagged a new funding model that would significantly consolidate and target public support for translational R&D, impacting not only universities but industry.
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