Government releases terms of reference for R&D system review
The government has unveiled the details of its review into Australia’s research and development performance.
Minister for Industry and Science, Ed Husic, has released the terms of reference of the government's strategic examination of research and development announced at the last budget.
Husic said the panel undertaking the the review has been asked to assess the benefits to economic growth and productivity from a more purposeful approach to R&D.
Specifically, the panel will consider opportunities to:
• Maximise the value of existing investment in R&D.
• Strengthen linkages between research and industry.
• Support the achievement of national priorities.
• Drive greater R&D investment.
• Uplift Australia’s overall R&D intensity.
Minister Husic said the review is designed to give Australia "an evidence-based pathway to stronger growth".
“It’s been almost 20 years since we asked the hard questions about our R&D performance, despite the alarming slide over the last decade," he said.
“We said after the pandemic we would boost our manufacturing self-sufficiency.
“That is a big challenge, but Australian know-how can help us do things smarter, sharpening our edge against international competition."
The Tech Council of Australia has welcomed the federal government's strategic review of R&D, stating that it is an opportunity for Australia to better harness the economic and productivity benefits of R&D.
Kassabgi said a strategic approach to R&D will increase competition, attract investment and contribute to a more productive and resilient economy.
“The decline in productivity is one of Australia’s biggest economic challenges. To continue enjoying our standard of living, which is among the highest in the world, Australia needs to focus on improving productivity growth," he said.
“Lifting investment in R&D can help us turn this around. To maximise the economic and productivity gains, we need a strong R&D system that encourages innovation and supports companies to transform world-class research into commercial success."
Kassabgi noted that while other countries are consistently increasing their investment in technology, Australia isn’t keeping up and its spending on tech investment is forecast to fall if it doesn't act.
Research released by the Tech Council in November showed that lifting investment in R&D and tech adoption could contribute up to $167 billion in GDP by 2035 in productivity gains.
The strategic review will be led by Robyn Denholm, the chair of Tesla. Other panel members include:
• Emeritus professor Ian Chubb AC, former vice chancellor of Australia National University, former chief scientist, current chair of the Health and Medical Advisory Group and a fellow of the Australian Academy of Science.
• Professor Fiona Wood AO, former Australian of the Year, pioneer of “Recell” spray-on skin, director of Royal Perth Hospital Burns Unit and Winthrop Professor in the School of Surgery at the University of Western Australia.
• Dr Kate Cornick, CEO of LaunchVic (Victoria’s startup agency), non-executive director at the Victorian Government Innovation Panel and the Australian Information Industry Association, and former CEO of ASX-listed Rision.
Denholm said Australia has ambitious goals to become a thriving economy that leverages its greatest resource, our extraordinary people.
“While we excel at producing world-class research, it is now imperative to focus on development and commercialisation to realise the full impact of our efforts," she said.
“My objective for this review is to unlock the immense potential of Australian research by turning it into tangible outcomes that deliver both economic and societal benefits."
Denholm said she will draw on her experience across the global and Australian business sectors to help shape R&D settings that enhance Australia's global competitiveness and secure the nation’s future prosperity.
“I look forward to working with the phenomenal committee members, the government and stakeholders to deliver a framework that supports a stronger, more innovative Australia for decades to come."
About the author
