Friday, 29 July 2011
AUSTRALIA'S STRONG INTERNATIONAL INNOVATION POSITION
Innovative Australians are improving the things they make and the way they make them, ensuring a fairer, richer, healthier and greener future, according to the Australian Government’s latest Australian Innovation System Report.
“Innovation will make Australia more productive and competitive, and may answer the great challenges of our time such as our changing climate, national security, hunger and disease,” Innovation Minister Senator Kim Carr said.
“This is the second annual report on the performance of Australia’s national innovation system, and provides the latest data and analysis of how our innovation system is performing compared with other countries. It also tracks progress against the Government’s innovation priorities and targets.
“The analysis shows Australia has a strong capacity to innovate. This report shows that our performance in the area of research and skills has been above OECD average and our performance in entrepreneurship is one of the best in the world.
“The report is valuable and will guide the continued development and implementation of the policy reforms that have stemmed from Powering Ideas."
Senator Carr said the report highlights some challenges, which the Government has committed to helping address with its record investment of $9.4 billion in innovation, science and research for 2011-12. The challenges highlighted include:
· The impact of the global financial crisis on innovation activity — the report shows that early stage venture capital investment dropped by 40 per cent in 2009-10;
· The barriers to business innovation, specifically the lack of skilled people — data analysis in the report suggests that vocational education and training may play an important role in countering that skills shortage; and
· The collaboration between business and researchers — the report shows Australian business innovators have increased the level of collaboration with universities, but the level of collaboration with publicly-funded research agencies has dropped.
To view the report, visit www.innovation.gov.au/AISReport.