Innovation review paper released

Senator Kim Carr, Minister for Innovation, Industry, Science and Research, has released the report of the Review of Australia's National Innovation System, calling it a turning point for the future of innovation in Australia.

The review was conducted by an expert panel chaired by Dr Terry Cutler. The panel analysed Australia's innovation system and made a series of recommendations to revitalise it.

"The Rudd government believes that innovation is critical to Australia's future as a strong, prosperous and equitable nation," Senator Carr said.

"This review represents a vital first step in harnessing the potential of innovation and putting it to work for the benefit of all Australians.

"The review provides an honest appraisal of Australia’s innovation effort and concludes that while our global competitors have been increasing their innovation efforts, our performance has been falling.

"If we are serious about unlocking Australia’s innovation potential, we all have to lift our game," Senator Carr said.

The panel's recommendations range across a number of key themes including innovation in business, strengthening people and skills, excellence in national research, information and market design, and taxation.

"We have every reason to be optimistic about our future — but to fulfil our potential we must embrace innovation," Senator Carr said.

"This means finding new and better ways of doing things; it means thinking outside the square; and it means researchers, businesses, workers and governments coming together to play their part in the innovation system, all in the national interest.

"This is a very timely and important report. The government will take a close look at the recommendations and will respond before the end of the year.

"I want to thank Dr Cutler, the review's expert panel members and all those who made submissions and contributed to the review's work. The report provides clear direction for action," Senator Carr said.

A copy of the report is available.