none

AUSTRALIA NEEDS A NEW INNOVATION STRATEGY: CARR

02-06-2015
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. Applications are now open for the Federal Government’s $1.3 billion Modern Manufacturing Initiative.
    23.02.2021
    23.02.2021
    by      In , In
    Applications are now open for the Federal Government’s $1.3 billion Modern Manufacturing Initiative.
    The program aims to boost manufacturing and grow jobs, with businesses in the burgeoning space sector the first to be eligible to apply for grants, to help them commercialise ideas or processes, or... Read More
  2. According to The Employment Law Practical Handbook, there are significant legal risks and liabilities for employers that fail to comply with these directions.
    03.02.2021
    03.02.2021
    by      In , In
    Australian employers and workers are required to abide by directives issued by their state or territory government to prevent the spread of COVID-19.
    According to The Employment Law Practical Handbook, there are significant legal risks and liabilities for employers that fail to comply with these... Read More
  3. 02.02.2021
    02.02.2021
    by      In , In , In
    Exhibitors at upcoming trade shows may be eligible to receive up to $250,000 funding via the government’s Business Events grant opportunity.
    The Business Events program provides delegates – including buyers and sellers – with financial support to attend and participate at exhibitions, conferences... Read More
  4. Manhattan Associates expects top trends to include automation and robotics, streamlining returns, courier choice, sustainability and intelligent technology.
    21.01.2021
    21.01.2021
    by      In , In
    A leading company in supply chain and omnichannel commerce has predicted six key technology trends will have an impact on Australian and New Zealand retailers and supply chains in 2021. 
    Manhattan Associates expects top trends to include automation and robotics, streamlining returns, courier choice... Read More
Products
Suppliers