SMART CRC Chief Operating Officer Dr Sarah Costanzo was instrumental in conceiving and delivering the successful bid that led to the establishment of the SMART CRC in late 2025.

Less than a year since launch, Sarah will share her insights on CRC bid development at the Cooperative Research Australia (CRA) conference Collaborate Innovate 2026 in Perth.

We spoke with Sarah ahead of her presentation about what it takes to build a successful CRC bid, from early decision-making through to lessons for creating strong, sustainable partnerships.

Why pursue a CRC and why was the SMART CRC the right model?

The most important part of deciding to pursue a CRC, rather than another model, is understanding the national need. The key questions are:

• Is there a clear industry challenge?

• Is it a national priority?

• Is it a challenge that needs to be addressed now?

In the case of the SMART CRC, Australia has strong research capability and emerging industry, but there is a clear opportunity and need to grow manufacturing in regenerative therapies. That spans the full pipeline, from discovery science through supply chains, commercialisation, and ultimately into the clinic.

If we want to see more therapies reaching patients, we need to bring all of those elements together. The CRC model provided the right structure to connect the entire ecosystem.

Building the right bid team. How do you get the balance right?

Building the right team is critical. It starts with shared values and a clear sense of purpose and everyone needs to prioritise the needs of the sector.

At a minimum, a strong bid team should include roles such as an Interim Chair, Interim CEO, Interim Research Director, Interim Chief Operating Officer, and skilled and commercially focused Project Manager.

Beyond roles, individuals need strong influencing and pitching skills because you are effectively building the foundations of a new organisation.

Throughout the bid process, team members also need to prioritise the CRC above their existing roles and affiliations. That level of focus is essential.

What does effective CRC bid development look like in practice?

If there is one takeaway, it’s this: communicate constantly and don’t stop collaborating.

CRCs have evolved over more than 30 years, so you need to clearly articulate how your particular CRC will operate, deliver value, and create impact.

In developing the SMART CRC, we spent countless hours workshopping ideas, needs and the model with industry, research and government partners. In-person sessions with industry and research stakeholders were particularly valuable.

We asked industry to bring their challenges, and research partners to help shape solutions. That shared process informed the application and the design of the CRC as it exists today.

Navigating the bid process and what to expect?

Developing a compelling CRC bid typically takes two to three years. It’s best thought of as a marathon with several intense sprints along the way.

We first developed the SMART CRC concept in 2021, with plans to submit in 2023. However, we made the decision to pause and spend another 12 months strengthening the proposal.

That experience reflects the scale of what you are trying to achieve. You are effectively shaping an entire sector.

During this time, it’s important that key people are fully dedicated to the process. Whether seconded or balancing other roles, the reality is that this becomes more than a full-time job.

Flexibility is also essential. Things change right up to the final stages, and teams need to be able to adapt quickly.

What motivates the work behind a CRC bid?

A CRC presents a rare opportunity to shape the future of an industry and help it succeed.

At SMART CRC, that means working towards getting regenerative therapies to patients faster, while strengthening Australia’s manufacturing capability to support that goal.

Having that clear, shared purpose is a powerful driver throughout what can be a long and demanding process.

Any key lessons from the SMART CRC journey?

CRCs are both challenging and incredibly rewarding. For those willing to commit to the process, it’s a unique and valuable experience.

One of the most important lessons is to always consider the perspective of your partners, whether they are in research, industry or government. People come with different experiences of CRCs, so it’s important to be able to clearly articulate what your CRC does and what sets it apart from others.

When building partnerships, focus on long-term sustainability rather than dollar value. A balanced partner base reduces risk, particularly if priorities shift for larger contributors.

Finally, momentum and “fear of missing out” is very real. A large cohort of partners can create a sense of urgency and interest. That can bring additional partners to the table late in the process, so it’s important to remain flexible and ready to respond.

Final words

I would like to take this opportunity to thank everyone who was part of the SMART CRC bid process. All of your contributions are the reason we are where we are today, supporting Australia’s regenerative therapies sector.