It is becoming increasingly important for Rural RDCs to continually monitor and evaluate the returns from RD&E investment, as government and industry require greater transparency and accountability of RD&E funds.

In addition to FRDC’s Statutory Funding Agreement requirements for valuing return on investment and use in its Annual Reports, impact assessments of FRDC’s RD&E investments are needed to inform:
– Future investment decisions
– CRRDC’s overall performance review of impact generated by RDCs
– Levy payers and government of the performance of investments.

GHD understands that the project will comprise two key components:
– An economic impact assessment of up to 20 research projects for the three-year period FY23/24, 24/25, and 25/26
– An individual and aggregated report of all assessed projects at the completion of assessments.

GHD notes that within this period the first five assessments for FY23/24 are required by June 2024 with the remainder of the projects, i.e. 10, due in September 2024. These assessments are required to be consistent with the CRRDC Guidelines for Impact Assessments. FRDC RD&E projects are to be assessed annually to meet Statutory Funding Agreement (SFA) requirements for valuing return on investment for use in FRDC’s Annual Reports and performance of FRDC’s investments.
In conducting the impact assessment project it will be important to note that one of FRDC’s key responsibilities is to ensure that research to assist management of fisheries and aquaculture resources is being undertaken to maintain ongoing sustainability. While the primary focus of these benefit-cost analyses over time has been economic impact, with references to environmental and social implications where appropriate, FRDC is increasingly interested in understanding the impact of R&D investments on environmental, social, and economic aspects more holistically.

Engaging with and educating the next generation is challenging and competitive, given the range of opportunities available to teachers and students in terms of topics, development opportunities and careers locally, nationally and globally.

Providing awareness, access and support to educators and students is critical to attracting and retaining people across fishing and aquaculture. Through curriculum aligned resources and aligned interventions, activities and experiences, FRDC can spark the curiosity and also provide access to a range of people in fishing and aquaculture through partnering with PIEFA.

This project builds on the strong relationship with PIEFA to conduct research to understand the current level of engagement, barriers and opportunities to position fishing and aquaculture with students and educators. This research will position FRDC for success through utilisation of established, trusted channels and networks. Providing opportunities to showcase the wide variety careers through interactive activities and self directed learning provides the fishing and aquaculture community a direct connection with the next generation.

PIEFA provides a mechanism to showcase fishing and aquaculture, and food and fibre more broadly in Australian schools.

This includes accessing multiple platforms, newsletters, exclusive invitations to members meetings and PIEFA AGM. Invitation to 2023 PIEFA Conference and events.