“The government’s discussion paper Boosting the Commercial Returns from Research is a welcome opportunity to explore the effectiveness of Australia’s research effort in stimulating economic growth and creating the jobs of the future,” Business Council of Australia President Catherine Livingstone said.

“The next decade of economic growth in Australia will be innovation-led.

“Governments, businesses and researchers all play a part in mobilising the system that underpins innovation.

“We welcome the discussion paper’s focus on research excellence, national research priorities, collaboration and entrepreneurship.

“The BCA has continued to highlight the importance of collaboration as a critical element of an innovation system.

“Currently, the World Economic Forum’s Global Competitiveness Report ranks Australia 21st in business and university collaboration on R&D - behind countries including Finland, Ireland, Malaysia and Luxembourg.

“In our recent submission to the Senate Inquiry into Australia’s Innovation System, the BCA reinforced the importance of improving our capacity to collaborate, within and between different sectors.

“We will provide a formal response to the discussion paper, and look forward to working with the government to build the innovation system that Australia so urgently needs,” Ms Livingstone said.

To read the BCA’s submission to the Senate Inquiry into Australia’s Innovation System click here

For further information contact:
Matt Newton, Communications Adviser
Business Council of Australia
Telephone (03) 8664 2627 • Mobile 0409 550 578