The Australian National University will receive the lion's share of $124.7 million in federal funding to be given to the ACT's research universities in 2017.
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ANU will receive $115,487,288 from the government's research block grants pool while University of Canberra will be given $9,288,913.
Education and Training Minister Simon Birmingham said the funds were aimed at encouraging universities to better engage with industries and innovators.
"ACT researchers have no shortage of smart ideas but we need to become better at taking research and applying it in ways that benefit the broader community and result in new job-creating commercial realities," he said.
"We've worked closely with our research sector to create a simple, transparent framework that gives universities flexibility in how they support research and research training."
ANU vice-chancellor Brian Schmidt welcomed the funding.
"This funding ensures ANU can undertake research that changes our world and changes lives," he said.
"Every day, our researchers are working on some of the great problems facing the word, in health, medicine and in science, and from international relations and defence through to national security.
"Federal research funding, along with our partnerships and collaborations with industry, ensure ANU can continue to do the kind of research and make discoveries with real, practical and valuable applications."
