So, Anthony Albanese got his meeting with Donald Trump, got the rare earths deal he wanted and got the President’s word, for what it’s worth, that Australia will actually see some nuclear submarines for which we’ve already shelled out billions of dollars.

However, in his Washington drive-by there was another opportunity the Prime Minister missed, an opportunity no less vital to Australia’s future – recruiting the world’s best medical researchers to our shores.

The political climate in the US has become increasingly hostile to science.

The National Institutes of Health experienced a 40 per cent funding cut earlier this year and this — along with political interference in university governance and crackdowns on academic freedom – has left many of America’s brightest minds disillusioned and looking abroad.

According to a recent Nature survey, nearly three-quarters of US researchers are considering leaving the country.

Applications for international positions have surged by more than 30 per cent in the past year alone. Other countries are already moving – Canada, Britain, and Germany have launched aggressive campaigns to attract US researchers.

The Australian Academy of Science has rightly called this an “urgent and unparalleled opportunity” to bring these scientists here. But to do so, we need leadership, coordination – and funding.

Fortunately, we already have the tools. The Medical Research Future Fund, the Australian Academy of Science’s Global Talent Attraction Program, and other existing funding streams provide a ready-made platform for action. What we need now is political vision and will.

The MRFF was established in 2015 with a bold vision: To transform Australian health and medical research.

Today, it holds a balance of $24.5 billion, with $650 million allocated annually for research projects through to 2028-29. And it’s been underspent; it was never meant to hold more than $20 billion, but parsimonious disbursements have led to it being overcapitalised.

The MRFF’s grants model is largely project-based and priority-driven.

While this has funded important work in areas such as rare cancers and genomics, it has not been sufficiently nimble or strategic in responding to global shifts in the research landscape. And it has been underutilised in one critical area: Attracting and retaining global research leaders.

I recently commissioned modelling from the Parliamentary Budget Office that showed that MRFF disbursements could be increased to more than $1 billion annually without compromising the fund’s long-term sustainability.

Redirecting even a fraction of this increase toward international recruitment could yield exponential returns in research output, innovation, and economic growth.

The Australian Academy of Science has already laid the groundwork.

Its Global Talent Attraction Program is designed to identify and recruit elite US-based researchers – individuals with global reputations, breakthrough discoveries, and a track record of mentoring the next generation.

The program is tailored to match researchers with Australian universities, research institutes, and industry partners.

It offers competitive relocation packages and long-term support to help scientists establish themselves here. But the program is still in its infancy and lacks the scale and funding to seize the current moment.

This is where the Albanese government must step in. By allocating targeted MRFF funding to the GTAP, the government could supercharge its efforts, enabling the recruitment of dozens – if not hundreds – of world-class researchers.

These scientists would bring not only their expertise but also their teams, networks, and international collaborations from which the Australian research sector would also benefit.

They would seed research centres, mentor Australian students, and help commercialise discoveries that benefit our health system and economy.

This is not about poaching talent for its own sake. It’s about building Australia’s sovereign research capability – a goal that has taken on new urgency in a world reshaped by pandemics, climate change, and geopolitical instability.

As Nobel laureate Professor Brian Schmidt and UNSW economist Professor Richard Holden recently argued, Australia’s ability to generate and apply knowledge is one of our most underleveraged assets. Investing in research is not a luxury; it’s a necessity for national resilience, economic growth, and global competitiveness.

The government has already recognised this in other sectors. It’s investing billions in critical minerals, defence technology, and clean energy. But medical research – arguably the most directly impactful area of science on Australians’ daily lives – has not received the same strategic focus.

We can change that. By using existing funds to attract global talent, we can build a research ecosystem that not only addresses our most pressing health challenges but also positions Australia as a global leader in biomedical innovation.

Prime Minister Albanese has spoken eloquently about the importance of science and innovation, and his government has committed to a national health and medical research strategy and to strengthening Australia’s research pipeline from discovery to commercialisation. Now is the time for action.

While the Prime Minister was in the US this week, he should have been making the case for Australia as a new home for America’s disillusioned researchers.

He should have announced a dedicated MRFF allocation to support the GTAP and other recruitment initiatives. And he should commit to a national strategy for attracting and retaining global research leaders.

The world’s best researchers are looking for a new home; the economic, social and health benefits of bringing them to Australia could be huge.

We could ensure that the next breakthrough in cancer treatment, pandemic preparedness, or mental health care happens here. We could give our young scientists the mentors and role models they need to thrive.

Australia has the lifestyle, the institutions, and the values that many American scientists are seeking. We have a world-class research sector that punches above its weight.

What we lack is a coordinated, well-funded national effort to attract the best minds here. The Prime Minister’s visit to the US was a golden opportunity to change that, a golden opportunity missed.