The report outlines issues concerning Australia's approach to science on both a national and international level, as well the collaborative effort required to improve its standing.
Australia has the intellectual capacity to compete with the best in technology, but unless efforts are coordinated, its technological potential will be wasted.
Joint Australian-Chinese research into wireless communications and new medicines for treating infectious diseases are among the projects to receive funding.
Australia's Square Kilometre Array Pathfinder radio telescope will be built in Western Australia's Midwest following an Indigenous Land Use Agreement signed with the Wajarri Yamatji people.
The Commonwealth Government is providing $26 million towards Australia's newest research supercomputer to be hosted at the Australian National University (ANU) and running in January 2010.
A plug-in electrical vehicle road trial is collecting information on how existing PHEV technology could use a car as a large mobile battery.
Proceeds from the organisation's WLAN technology licensing program will go to the Government's Science and Industry Endowment Fund.
Flexible plastic solar and carbon fibres are among the research areas supported by the Future Manufacturing Flagship.
The CSIRO-invented UltraBattery is set for accelerated development with the US Government awarding US$32.5 million ($39.5 million) to US manufacturer East Penn to produce the battery.
At the March launch in Sydney of the Australia-China Research Centre for Wireless Communications, the Centre’s Director, CSIRO’s Dr Jay Guo, said the need to develop ‘green’ wireless base stations is becoming more pressing as wireless networks become ubiquitous.