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. 18.06.2018
    18.06.2018
    by      In
    Queensland-based electronics design and manufacturing company, Hetech, is collaborating with selected local engineering companies to increase its design capacity of up to 20 engineers.
    With defence projects such as the LAND400: Phase 2 arriving in Queensland, collaboration between local engineers... Read More
  2. 15.06.2018
    15.06.2018
    by      In
    The NRMA has chosen Australian-made electric vehicle chargers from Brisbane-based Tritium to equip its $10 million network planned for New South Wales and the ACT. The network, which will be the largest in Australia, will comprise 40-plus charging stations that will be free to use for NRMA members... Read More
  3. 14.06.2018
    14.06.2018
    by      In
    Australia’s Collins Class submarine fleet is set to receive significant sonar upgrades this year in a project led by Raytheon Australia and Thales Australia.
    In announcing the commencement of the upgrade programme, Minister for Defence Industry, the Hon Christopher Pyne MP, said that as the... Read More
  4. 14.06.2018
    14.06.2018
    by      In
    Australian-founded Ainsworth Game Technology has expanded globally since being established in 1995, today representing the fifth-largest gaming manufacturer in the USA. The company boasts a new state-of-the-art US$40 million facility in Las Vegas, which produces thousands of gaming machines per... Read More