none

AUSTRALIA NEEDS A NEW INNOVATION STRATEGY: CARR

12-08-2015
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. 21.03.2019
    21.03.2019
    by      In
    We are on the verge of a federal election. The choice in this election will be absolutely clear, and nowhere more so than in industry policy.
    Labor is committed to stimulating investment in Australian manufacturing and Australian jobs.
    We have already announced key elements of our plan to support... Read More
  2. 04.02.2019
    04.02.2019
    by      In
    Over the last 40 years, Australian manufacturing has maintained its strength, resilience and adaptability through many challenges and transitions. Some may even say they’ve maintained that strength as a result of those challenges. These continue with fluctuations in the Australian dollar, the... Read More
  3. 31.01.2019
    31.01.2019
    by      In
    Government has a unique purchasing power, because the choice a government makes when it awards a contract to a successful tenderer becomes a powerful driver of economic activity.
    Successful bidders need suppliers, and procurement contracts grow their businesses too, expanding Australia’s industrial... Read More
  4. 29.10.2018
    29.10.2018
    by      In
    Earlier this month, I visited the state of the art Clayton precinct of Australia’s national science agency, CSIRO in Melbourne. This is one of CSIRO’s largest sites, with 1200 of Australia’s best and brightest researchers working there.
    Much of CSIRO’s manufacturing, engineering and biomedical... Read More