A case for change
'The status quo is not enough to meet the challenges of the 21st century.'
Senator the Hon. Kim Carr, Minister for Innovation, Industry, Science and Research
Supporting our innovation potential
Our innovation system has worked well enough, often enough, to show us what success looks like. Products of the system earning returns for Australia internationally include Google Maps, Biota's flu treatment (Relenza), CSIRO's polymer bank notes, CSL's anti‑cancer vaccine (Gardasil), and Cross Market Surveillance Service's stock market fraud detection system.
But we need the system to work better if we are to strengthen established industries and jobs, move into emerging high value‑added industries, and boost long‑term productivity. As the OECD recently noted, countries with strong innovation policies are more likely to come out of the global financial crisis in better shape than countries with no clear commitment to continuous improvement.
The Review of the National Innovation System made recommendations to improve our innovation system, including investing in research infrastructure, boosting research funding and improving business innovation and collaboration. The Government has responded to the key directions of the Review with a comprehensive package of measures to support innovation.
Australia's performance compared to the OECD average
(a)GERD is gross domestic expenditure on research and development.
(b)BERD is business enterprise expenditure on research and development.