National Reconstruction Fund

One of the reasons that a National Robotics Strategy is so important is that it will signal the importance of funding robotics initiatives, and the main mechanism for doing this is likely to be through the government’s proposed National Reconstruction Fund. The Prime Minister told the Australian Financial Review Business Summit 2023 that the government’s goal is to ensure Australia is an exporter of “technology and services, mining equipment, software and systems expertise, training and skills”. The National Reconstruction Fund Bill has passed the lower house and is currently being debated in Senate. The bill aims to establish a $1 billion fund to support local manufacturing, research and development, and regional development, among other initiatives.