Industry-Innovation-and-Competitiveness-Agenda

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Industry Innovation and Competitiveness Agenda
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assessment criteria, paths to commercialisation and a large pool of experienced
participants in the resources sector. However, we have not developed a similar market for
technology-based industries, like biomedical and pharmaceuticals, despite our excellent
and substantial scientific research output (Pollenzier, From Little Things, Deloitte, 2012). The
Government will provide $60 million through the Entrepreneurs’ Infrastructure Programme
to co-fund commercialisation opportunities. The Government’s investment will be no more
than 50 per cent and up to $1 million in project funding. Funding will be provided on
a competitive basis.
Success of the Centres will be measured by increased investment, employment, productivity
and sales, reductions in red tape, improved industry-research links and more businesses
integrated into international value chains.
The Minister for Industry will consult industry on the implementation of the Industry
Growth Centres. The Growth Centres will be rolled out from early 2015.
Proposal 14: Enhancing commercial returns from research
The Government will consult with industry and the research community to develop
and implement a comprehensive strategy to better translate research into commercial
outcomes. This will help drive innovation in Australia, grow successful businesses and
create the jobs of the future for Australians. It aligns with the Government’s measures
to reform the higher education sector, and our focus on realising the potential of health
research.
Australia performs well on measures of research excellence, which is an important factor for
achieving research translation. With more than 3.5 per cent of the world’s top highly cited
international research publications involving Australian researchers, we punch above our
weight relative to our proportion of the world’s population (Department of Industry, 2013a).
74 Industry Innovation and Competitiveness Agenda