Explore is a new scheme dedicated to exploratory high-risk, high-reward research. It will support researchers to trial bold ideas with the potential to be highly transformative. These projects will have the potential to create new fundamental knowledge including for economic, social, environmental, cultural or commercial benefits. Explore is expected to open in March 2027. The scheme will run annually. Duration Indicative funding amount Eligibility Up to 3 years $50,000 to $400,000 per year All Chief Investigators and Salaried Chief Investigators who do not currently hold or have not been awarded an Explore grant in the previous 3 years. Indicative grant opportunity This information is indicative and is subject to confirmation in the final grant opportunity guidelines.* Funding to support short-term, highly novel and potentially transformative research projects with the potential to move beyond existing paradigms of research. This research may create new knowledge; address a significant problem; trial innovative methodologies, interdisciplinary collaborations, or partnerships; or explore a radically new approach or area of inquiry. The grant opportunity will expand research capacity in Australia by supporting excellent researchers and teams to take greater risks in pursuit of knowledge. Proposed assessment process Applications will be assessed through peer review against 3 overarching criteria. The criteria focus on the identification of high risk, high reward projects: Why: the research idea, innovation and potential benefits, weighted at 60% How: the research plan, methods, risk management, collaborations and value for money, weighted at 20% Who: the expertise, experience and capacity of the individual or team, weighted at 20%. Following peer review, applications will be placed into competitiveness categories (highly competitive, competitive or not competitive) based on their ranked position taking peer review assessment scores into consideration. Highly competitive applications will be prioritised for funding. If funding remains available, competitive applications may be selected through weighted randomisation, overseen by an independent probity adviser. Adopting this approach has been informed by experience overseas, which has shown that randomisation can result in fairer outcomes by reducing bias. The ARC will carefully monitor and evaluate the outcomes to ensure the rigour and integrity of the peer review process is maintained. Proposed additional limits A Salaried Chief Investigator (SCI) may apply for another SCI role but can only hold one salary at a time. ARC Research Points have been introduced to support broader participation in research projects and collaboration across grant opportunities, and these limits apply to this scheme. See the ARC Research Points page for specific details related to this scheme. NCGP legacy scheme grants will not be counted in the ARC Research Points limit. Proposed objectives a. Research Excellence: Identify and enable high-quality, innovative research spanning pure basic, strategic basic and applied research domains across all disciplines (excluding medical research and experimental development), with a focus on fostering ambitious projects that exhibit potential for high-risk, high-reward outcomes. b. Benefit: Support research that serves the national interest in diverse ways, including fundamental knowledge creation; commercial, cultural, economic, environmental, or social benefits; and/or alignment with ARC strategic goals and Australian government priority areas. c. Capacity: Strengthen Australia’s research capacity by fostering a skilled, inclusive and adaptable research workforce, supported by flexible career pathways that enable world-class research and impact for Australia. d. Collaboration: Support and promote mutually beneficial research collaboration between Australian higher education institutions and local or international partners, such as community organisations, government, industry, or international research institutions. * The ARC will provide further advice to Research Offices on the scheme following the disallowance period for the Explore Grant Opportunity Guidelines, or if the Guidelines are disallowed, as well as any additional changes and/or updates.