Creating Australia’s future innovation landscape?

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Creating Australia’s future innovation landscape?

Tax insights

The Government released its anticipated Innovation Statement badged as the National Innovation and Science Agenda

On Monday 7 December 2015, the Government released its anticipated Innovation Statement badged as the National Innovation and Science Agenda (NISA)( the Agenda), which contains a number of innovation recommendations that were widely anticipated by the media.

The Agenda is the first step seeking to transform Australia’s innovation landscape, with a whole of government approach, to be attractive to mobile, high-value businesses and retain globally-successful businesses onshore.

At the outset, the Agenda rightly acknowledges Australia’s existing strengths in research and weaknesses in commercialisation, and broadly addresses itself to four themes, being talent and skills, culture and capital, collaboration, and government as an exemplar.

Although we believe that these announcements are a welcome first step to encouraging greater innovation, the success of the Agenda will lie in the detail of the measures and their sustainable implementation. We also believe that the Government will need to commit to further reform measures to improve Australia’s poor record in commercialisation; Australia’s standing in the OECD ranks will fail to improve unless specific measures seek to ensure that Australia is an attractive place for Australian companies, as well as global multinationals, to commercialise their research in and from Australia.

Creating Australia’s future innovation landscape?
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