Since 2000 FRDC has invested, through its public good, considerable resources in emerging and developing aquaculture species. There have been some slight changes in the direction taken, but overall very little has changed. For example, abalone and barramundi aquaculture are now seen as mature sectors that should not obtain the degree of public good investment they received in the past. These areas have traditionally been managed as individual sectors with little cross fertilisation.

In the recent funding round, six new applications in the emerging and developing species aquaculture category were submitted. As such, it was considered that the FRDC should revise its investment strategy in this area. This would involve FRDC ceasing its individual sector based approach using public good funds and initiating a Emerging and Developing Aquaculture Species Program.

In addition, the Rural Industries Research and Development Corporation (RIRDC) has been involved in the development of new rural industries and has recently published reports regarding critical success factors (Critical Success Factors in New Rural Industries, RIRDC Publication 09/002, March 2009) and turning good ideas into profitable ventures. The RIRDC has also been involved in the investment in fisheries related programs regarding the development of aquaculture species. The FRDC is keen to engage in this process and co-invest in fisheries related R&D.