One of the focuses of Australia’s recently released budget for 2008–2009 is the renovation of research institutions and new research grants. The new AUS$11 billion ($10.5 billion) Education Investment Fund, the successor to the country’s Higher Education Fund, will be used to repair universities and research facilities. The new Health and Hospital Fund will focus its AUS$10 billion budget on new equipment and facilities for hospitals. The National Health and Research Council will receive AUS$617 million, an AUS$123 million increase. To fund research, the government launched the four-year, AUS$36 million Future Fellowships program for 1,000 researchers, which also includes funding for university infrastructure. In addition, the quantity of postgraduate scholarships for new researchers will increase from 4,800 to 10,000 by 2012. The country’s AUS$547 million Commercial Ready Program to commercialize medical innovation will be cut.

Source: Australian Life Scientist