Research and Development Corporations and Companies
Research and development corporations and industry-owned companies (RDCs) are the Australian Government’s primary funding bodies for rural research and development (R&D) in Australia. There Rural Research and Development Corporations cover virtually all of the agricultural industries.
The RDCs invest in R&D and innovation to improve the productivity and delivery of high quality products in order to underpin the competitiveness and profitability of Australia's agricultural, fish and forestry industries. RDC R&D and innovation also supports the sustainability of primary production and the natural resource base.
The government-industry partnership model that supports the RDCs has been operating successfully for over 20 years and now provides more than $470 m in annual R&D expenditure.
Based on legislated or industry funding agreements, the Australian Government agrees to collect industry levies for the purpose of R&D and/or marketing. To expand Australia’s rural R&D efforts, the Australian Government generally matches expenditure on R&D up to 0.5 per cent of industry Gross Value of Production. The RDCs are accountable to both industry and government for their expenditure.