More than $12 million investment in PICs

Minister for Defence Materiel, Jason Clare announced more than $12 million in matched funding is being offered to nine Australian companies to commercialise new defence technologies that will contribute to Australia’s Priority Industry Capabilities in the defence sector.

“This is an investment in cutting edge defence technologies developed here in Australia,” Clare said.

“It involves Defence working directly with some of Australia’s most innovative defence companies to develop technologies for the Australian Defence Force.

“This is about making sure our troops have the equipment they need to do their job”.

Over the next seven years $45 million will be invested in Priority Industry Capabilities through this program.

“The defence industry’s most important capabilities are our Priority Industry Capabilities,” Clare added.

“These are must haves – the things we cannot do without.

“The ideas this program will fund will help strengthen these capabilities in Australia.”

Further information about the Priority Industry Capability Innovation Program can be found at www.defence.gov.au/dmo/id/picip/