The Global Connections Fund (GCF) is an initiative within the Global Innovation Strategy –
a component of the Australian Government’s National Innovation and Science Agenda.
The purpose of the program is to transport research and technology innovation out from the walls
of academia and apply it to real-world settings.
Essentially, the GCF links researchers and SMEs on a global scale – Australian researchers meet with
international SMEs, and Australian SMEs meet with international researchers. And the outcomes
from 2016 were eminently successful.
GCF activities accelerate research-business relationships with more effective strategic network
formation.
Collaborative relationships produce higher quality research and optimise the environment for
innovation breakthroughs. Leveraging one another’s strengths benefit both Australia and partner
economies, assisting their development as technology leaders.
Cooperation in science, technology and innovation at the international level is a key element in
national science and innovation systems. It is vital in supporting economic growth in Australia.
The many direct and indirect economic benefits of international collaboration include:
- Bringing skills and access to research infrastructure
- Facilitating the participation of experts in research activities of global significance
- Enhancing the reputation of Australian science and technology
- Providing a stimulating environment to trigger new ideas
- Opportunities for SMEs to add value to products or services by adopting innovative research outcomes
- Sharing costs and risks
- Facilitating access to new funding opportunities
- Increasing opportunity for the cultural and professional development of Australian scientists