ACT Labor will establish a specialised agency to promote Canberra as a university town.

Chief Minister Katy Gallagher has promised $2 million for ''StudyCanberra'' which will promote the territory as ''Australia's study destination of choice for local and international students''.

''StudyCanberra is a plan to capitalise on the already substantial economic and social benefits of research, education and training in the ACT,'' she said.

Ms Gallagher said a steering committee of learning institutions and business and tourism leaders would oversee the project.

The funding would be spread across areas including tertiary leadership and creating new educational opportunities for students.

The Chief Minister also committed $1.5 million over three years to establish a chair of cancer research at the John Curtin School of Medical Research.

The money would act as a start-up fund, with further funding to come from the Australian National University and philanthropic donations.

Ms Gallagher said the new professor, who would be closely linked with the Canberra Research Cancer Centre, was likely to be accompanied by a research team.