Australia to review its R&D system

The Australian government has released its Terms of Reference for the Strategic Examination of R&D announced at the last budget in May this year. Australia has a very weak record of commercialising the fruits of its R&D, despite its researchers undertaking world-class and even world-leading research. The examination will be led by Chair Robyn Denholm, who also Chairs Tesla.

The Panel is being asked to assess the benefits to economic growth and productivity from a more purposeful approach to R&D. Specifically, they 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

“Australia has ambitious goals to become a thriving economy that leverages its greatest resource, our extraordinary people,” said Ms Denholm. “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.

“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. Drawing on my experience across the global and Australian business sectors, I aim to help shape R&D settings that enhance our global competitiveness and secure our nation’s future prosperity.”

The other panel members are:

• Emeritus Professor Ian Chubb AC
• Professor Fiona Wood AO
• Dr Kate Cornick

“Our ideas and intellectual property are an indicator of future economic success,” said Ed Husic, Minister for Industry and Science. “This review is designed to give us 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.”
The $23 billion Future Made in Australia plan is a critical investment in building up the country’s industrial muscle