none

AUSTRALIA NEEDS A NEW INNOVATION STRATEGY: CARR

04-08-2015
by 
in 

Evidence presented to the Economics References Committee hearing in Melbourne has emphasised the need for a “thriving” national innovation system, says Senator Kim Carr, Shadow Minister for Innovation and Industry.  

The Senate Economics References Committee met in Melbourne to discuss challenges now facing Australian industry.

The Committee reviewed the impact on industry of increasing global competition in innovation, science, engineering, research and education.

Evidence was presented from a range of experts across academia, research and industry

At the hearing, the BioMelbourne Network described Australia, particularly Melbourne, as a hub for the biotech and medical research but stressed that continued support from government, both in terms of industry programs and stable policy settings, is essential if Australia is to remain internationally competitive.

Representatives from AusBiotech and CSL told the Committee that access to capital remains a significant roadblock for advanced manufacturing and that a suite of measures is required to help take great Australian ideas and intellectual property from the laboratory, through to the factory floor and into global markets.

Representatives from the University of Melbourne highlighted the great entrepreneurial talent that is available in Australia, a point echoed by other innovation experts.

However while Australia ranks among the best in the world for entrepreneurial talent, we fail to exploit this potential and need to get better at turning Australian inventions and discoveries into commercial outcomes.

A range of experts lauded the success of the R&D Tax Incentive and were adamant that the scheme should be protected from any further cuts or reductions, whilst also flagging that carefully thought-out expansions of the scheme, for example to encourage greater collaboration with universities and publicly funded research agencies, could help to address cultural barriers to collaboration.

Representatives from Deloitte and Keech Australia told the Committee that closures in motor vehicle manufacturing will have a negative impact on our national manufacturing capabilities. They argued that Australia needs to maintain a broad manufacturing base, including traditional industries, in order to produce the advanced manufacturing industries of tomorrow.

“All of this requires collaboration between industry, education and research, matched with a long-term vision and ongoing investment from government, said Senator Carr.

“The evidence provided today makes it clear that Australia needs a globally oriented, innovation-driven economy to create the high-tech industries and high-skill, high-wage jobs of the future.”

Related news & editorials

  1. 13.12.2018
    13.12.2018
    by      In
    After a long stint as the Asia-Pacific Managing Director of 600 Machine Tools, Cliff Purser is retiring from his post in Sydney, and returning to live in New Zealand.
    The genial Englishman has led the 600 team in Australia since transferring in November 2004 from the position of New Zealand... Read More
  2. 13.12.2018
    13.12.2018
    by      In
    Adelaide has been chosen as the headquarters of the newly established Australian Space Agency.
    The Australian Space Agency was officially launched on 1st July and received $41 million over four years from 2018-19 in the federal budget to “grow the Australian space industry,” including $26 million... Read More
  3. 12.12.2018
    12.12.2018
    by      In
    There are very few companies in Australia that can point to half a century of experience in electronic control systems, but Plant Control & Automation is one that certainly can.
    The company was founded in Sydney in 1968 by Adrian Smith, a young engineer who immediately set about designing and... Read More
  4. 11.12.2018
    11.12.2018
    by      In
    A-Safe Australasia has capped off a record year with a move to new premises. And while the company’s new base at 177-179 Power Street, Glendenning in Sydney’s west is just a few hundred metres from its old home at 197 Power Street, it provides the company with more than double the office and... Read More