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Do I have to sign up for the life of the CRC?
No; however, the CRC can only provide matching funding for the duration for which you sign up. So, it is beneficial to sign up for the entire duration and you can withdraw (with 12 months’ notice) if you decide to withdraw.
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Do I have to sign a contract now?
No, you sign a Declaration during the bid phase. This is not legally binding; it is an intention to be involved.
The contract (Partner Agreement) is to be signed once the CRC is awarded (announcement expected in December 2024). If the CRC is successful, it will be your decision as to whether you proceed with signing the Partner Agreement. The Partner Agreement will provide an exit clause, meaning you can withdraw at any time with 12 months’ notice.
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Can I withdraw after signing the Declaration?
Yes, the Declaration can be withdrawn at any time.
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Do I have to pay all the contribution amount upfront?
No, the contributions will be due half yearly or quarterly. So, if signing up to contribute $200,000 per year, you will be issued with either four invoices of $50,000 every quarter or two invoices of $100,000 every six months.
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When are the contributions due?
The CRC, if funded, will be operational from 1 July 2025. The invoices for contributions will begin to be issued after this date.
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How do I know I will get my project done?
The CRC will have several processes for Partners to propose Projects, and will work with Partners to bring consortia together to undertake Projects. The extent of your Project involvement will depend on your contributions – the more the funding committed to the CRC the larger the Projects, and the greater the number of Projects that Partners can undertake. The CRC will exist for 10 years, which will allow ample opportunity to undertake Projects of varying scales and duration (from three-month scoping/feasibility studies to three- to four-year technology development and commercialisation Projects). Projects can run in parallel or sequentially.
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How can I have influence over the CRC decisions?
Gold and Silver Partners will be able to nominate and vote on Board positions for the CRC, as well as become Members of the CRC not-for-profit company that will be established. Gold, Silver and Bronze Partners can nominate representatives to the Research Program Consultative Committees according to the Partner tier table outlined in the Term Sheet. The CRC is an open organisation and exists for the benefit of its Members and Partners and will welcome discussions at any time.