As part of a broader examination of Australia's National Innovation System, this report examines Australia's Cooperative Research Centres program, making a series of recommendations for change in relation to: funding and frequency of selection rounds; objectives of the program; broadening participation; co-funding arrangements; program administration; evaluation arrangements; and the positioning and integration of CRCs within the National Innovation System. The review also recommends the creation of a new program to support the development of closer relationships in those industries and sectors where little collaboration currently occurs