Reps report on fostering innovation tabled

Stuart Corner
Monday, 19 June 2006 19:38

IT Policy - Regulation

The House of Representatives' Standing Committee on Science and Innovation has tabled the report of its inquiry into Pathways to Technological Innovation highlighting a number of impediments to innovation in Australia.
Key recommendations include:
• Promotion of the Government assistance that is available to businesses;
• Better fostering a culture of entrepreneurship in Australia;
• Providing a scheme of matched Government - university funding to support projects at the proof of concept stage; and
• Investigating mechanisms to direct more Government procurement to technological innovation from small & medium enterprises.

The report concluded that "Australia performs relatively well internationally across a number of key innovation indicators, with a highly skilled workforce and a large number of foreign affiliates in manufacturing R&D. However Australia falls below the OECD average in our business expenditure on R&D and levels of patenting in the United States."

The inquiry received more than 100 submissions and public hearings were held around Australia. Copies of the report can be obtained here.