Supercharging research and development (R&D) presents a significant opportunity to lift Australia’s productivity, raise living standards and deliver a resilient and sustainable economy, underpinned by a Future Made in Australia. The BCA welcomes the important work of the Strategic Examination of Research and Development (SERD) and commend the extensive consultation that has informed its consideration of this critical topic and the development of the Issues Papers.
As outlined in our submission on Issues Papers 1-3, Australia must lift investment, simplify incentives and embed stronger collaboration between business, research and government if we are to translate world-class research into innovation, jobs and economic growth.
We are encouraged that Issues Papers 5 and 6 build on this agenda by focusing on outcomes rather than inputs, aligning funding with national priorities, and positioning government to lead by example. These are the right directions, and our comments below aim to sharpen and strengthen their impact.
We see Issues Papers 5 and 6 as a valuable complement to the priorities outlined in our submission on Issues Papers 1-3. The emphasis on impact, alignment and government leadership is essential to strengthening Australia’s RO&I system.
The challenge now is to ensure implementation delivers globally competitive settings, enables business-research collaboration at scale, and secures lasting benefits for productivity, prosperity and living standards. Large businesses stand ready to partner with government and universities to turn this vision into action.