The ARC is a statutory agency under the Industry, Innovation, Science, Research and Tertiary Education (IISRTE) portfolio within the Australian Government. Its mission is to deliver policy and programs that advance Australian research and innovation globally and benefit the community.
In seeking to achieve its mission, the ARC provides advice to the Government on research matters, manages the National Competitive Grants Program (NCGP), and administers Excellence in Research for Australia (ERA).
ERA assesses research quality within Australia's higher education institutions and gives government, industry, business and the wider community assurance of the excellence of research conducted. It also provides a national stocktake, by research discipline areas, of research strength against international benchmarks.