OECD innovation strategy embraces Australian approach
28 May, 2010. An innovation strategy released by the OECD strongly supports ideas already adopted in Australia as part of the Rudd Government’s innovation agenda, Powering Ideas.
The OECD Innovation Strategy confirms that Australia is on the right track by focusing on innovation as a key driver of long-term economic growth.
“Imitation is the sincerest form of flattery,” said Innovation Minister Senator Kim Carr.
“It is great to see confirmation of our groundbreaking innovation agenda by the world’s foremost economic organisation.
“The OECD strategy sees innovation as a way to help countries boost economic growth and address global challenges like climate change, health and food security.
“Australia has worked closely with the OECD on this strategy.
“Like Powering Ideas, the OECD’s Innovation Strategy recognises that many factors influence innovation. It focuses on empowering innovation through:
• education and training;
• creating new regulatory and policy frameworks, including in the area of taxation;
• encouraging entrepreneurship by helping businesses to embrace innovation; and
• enhancing public research systems.
“Thanks to the Rudd Government’s massive investments in the Powering Ideas agenda and the Education Revolution, Australia is already off to a great start in these areas.
“For example, our Education Investment Fund supports major investments in higher education and research, we are developing a new R&D Tax Credit, and we are helping businesses take their ideas to market through Commercialisation Australia.
“Innovation is a key part of the Government's nation-building agenda. We are investing heavily in education, skills and innovation to increase productivity and support high-skilled, high-wage jobs.
“The OECD Innovation Strategy confirms we are heading in the right direction,” Senator Carr said.
The OECD Innovation Strategy is available at www.oecd.org. Powering Ideas: An Innovation Agenda for the 21st Century available at www.innovation.gov.au.