Working with organisations outside the business – universities, research bodies, other businesses – can greatly expand Australian firms' capacity to innovate and match larger rivals overseas.
Money always seems tight for university scientists. A sociologist conducted hundreds of interviews to see how they think about funding sources and profit motives for basic and applied research.
Here are five ways the Treasurer could boost revenue to make the numbers work.
A new study connects the dots between published science and patented innovations, mapping just how society benefits from basic scientific research.
Research dollars don't stay locked up in academia and government labs. R&D collaborations with the private sector are common – and grow the innovation economy.
R&D support is not the only way public policy can help create new industries.
The collapse of the car manufacturing industry will require more investment in R&D and technological innovation to ensure Australia doesn't fall behind.
With federal support for on-campus R&D dwindling as a percentage of GDP, keeping basic research afloat is a challenge. Schools and researchers are left to try to fill in the funding gaps.
The tax system is only one of several ways R&D can and should be incentivised.
Australia's relatively small market size means it must rely more heavily on international markets to innovate.
Research and development investment remains stagnant in Australia. It's time for a new, long-term strategy for research.
Policies for encouraging research, development and startups are good but both major parties need to move beyond this to help Australia innovate.
Using tax incentives to motivate innovation is more nuanced than governments sometimes assume.
Some of the new(ish) initiatives in the Innovation and Science Agenda may help in small ways, but it doesn't provide the answer what happens after the innovation.
Australia's insolvency laws are behind world best practice and need reform.
Graduates should be taught entrepreneurship skills.
Australia is being rapidly outpaced by its innovative international competitors.
An emphasis on innovation is great, but we need genuine reforms to universities and tax incentives if we're to promote collaboration between research and industry.
A national innovation agenda is bound to undershoot its promise if R&D is not inherently embraced by the top ranks of corporate Australia.
The answer to Australia's ailing innovation system does not lie with universities, which should stick to teaching and research, and aim to do both well.