In 1998 AWTA Ltd established "The AWTA Ltd Wool Education Trust", with a grant of $3,000,000, to provide ongoing financial support for tertiary training in wool and wool textile science and technology at the undergraduate and post graduate level

Background
The Department of Wool & Animal Science at the University of New South Wales was the only Australian tertiary institution providing comprehensive specialist training in wool and textile science and technology. Other institutions offered some training through the provision of wool science related topics as elective subjects.

As such, the Department of Wool & Animal Science had been a major source of graduates employed in the wool marketing and technology industries and in related research. Graduates were employed in the wool broking and exporting industries, wool processing, CSIRO, State Departments of Agriculture, IWS and AWTA Ltd.

The decision of the University of New South Wales at the end of 1996 to close the Department of Wool & Animal Science created a void in the tertiary training of undergraduates and graduates and also reduced the facilities for post graduate training and research - a situation which further exacerbated opportunities lost with the closure of CSIRO Division of Wool Technology laboratory at Ryde in mid 1996.

The AWTA Ltd Wool Education Trust
AWTA Ltd moved to minimise the effect of the closure of the Department of Wool & Animal Science by the establishment of "The AWTA Ltd Wool Education Trust".

The Trust was established to provide funds for the promotion and encouragement of education in undergraduate and/or post graduate training in wool and wool science and technology, from wool growing to the textile product stage, including such subjects as:

fibre science;
wool production, including management, breeding and preparation for sale;
wool metrology, including testing technology, process control, Total Quality Management and the prediction of processing performance; and
wool and textile marketing, including trading, processing and promotion of woollen products.

Application of Funds
Funds were to used to provide scholarships and/or fund an academic position. They were also used to fund other resources, as required.

Funding for post graduate research was restricted to wool metrology and its applications.

Funds were not restricted to any one institution.

The Trustees determined allocation of funds.

Trustees
There were 6 Trustees, 4 appointed by AWTA Ltd and 2 by the Federation of Australian Wool Organisations (formerly the Australian National Committee of IWTO).

The establishment of the Trust was an extension of AWTA Ltd's commitment to wool science education. Since 1990, the Company, together with IWS, funded up to 4 scholarships a year for undergraduate students in the UNSW Department of Wool & Animal Science.

In June 2004 Australian Wool Innovation Limited (AWI) invested four million dollars in the AWTA Ltd Wool Education Trust. The capital for the AWI investment became available after the sale of the CSIRO Prospect property.

With the AWI grant, the Trust's total capital almost doubled. It is anticipated that the extra funding will enable the Trust to generate up to $0.5M per annum for education in the wool industry. The Trust is therefore able to fund skills development for the industry on a much larger scale than before.

As a consequence of this grant the Trust was renamed the "Australian Wool Education Trust", with 8 trustees.