Marise Payne (NSW, Liberal Party, Minister for Defence) Share this | Hansard source

I am very excited about these opportunities, but my excitement is nothing beside the Prime Minister's and the industry minister's, let alone that of the head of the Defence Science and Technology Group, Dr Alex Zelinsky. We are establishing a $730 million next-generation technologies fund which is going to be used to very strategically invest in technologies that have the potential to deliver game-changing capabilities and commercialisation opportunities for Australian defence industry. We are also going to establish a $640 million new virtual defence innovation hub, which has the capacity to foster innovation from concept through prototyping, through testing and then through introduction to service—a real change in our capacity to engage with industry that is really at the forefront of this level of creativity and innovation in the defence space. As with the centre for defence industry capability, these programs will directly complement the National Innovation and Science Agenda.