"The report from the Senate Inquiry into Australia’s Innovation System reinforces the crucial role of innovation in driving economic growth and job creation in Australia,” BCA Chief Executive Jennifer Westacott said.

"Mobilising all the elements of the system which builds our capacity to innovate, and rewards and encourages innovation, will be critical to delivering prosperity into the future.

"The government's Innovation and Science Statement, to be released on Monday, should build on the issues identified in the Senate Inquiry's report by outlining an agenda to achieve those objectives.

"In our submission to the Senate Inquiry the Business Council identified five priorities; creating a business environment and culture which incentives innovation, fostering greater collaboration, building human capital and skills, supporting our knowledge infrastructure and removing regulatory inhibitors to innovation.

"Given the number of inquiries and reviews of innovation Australia has undertaken, it is imperative that we have bipartisan support to lock in the fundamentals and provide the policy consistency needed to drive innovation and achieve our national potential," Ms Westacott said.

For further information contact:
Matt Newton, Communications Adviser
Business Council of Australia
Telephone (02) 8224 9207 • Mobile 0409 550 578