The Federal government is announcing details of its landmark review of Australia’s research and development performance to help power economic growth.
It is releasing Terms of Reference for the Strategic Examination of R&D announced at the last budget and announcing the four eminent Australians who will lead the examination, including Chair Robyn Denholm.
It will be the first time in almost 20 years that this important foundation of our economy will come in for such wide-ranging review.
“Our ideas and intellectual property are an indicator of future economic success,” said Hon. Ed Husic, Minister for Industry and Science.
“We said after the pandemic we would boost our manufacturing self-sufficiency.
“That is a big challenge, but Australian know-how can help us do things smarter, sharpening our edge against international competition.
“Our $23 billion Future Made in Australia plan is a critical investment in building up our industrial muscle.”
The Strategic Review will be led by Robyn Denholm, Chair of Tesla, who brings extensive experience in R&D through her senior leadership roles at some of the most innovative companies on the planet.
Other panels members are:
- Emeritus Professor Ian Chubb AC, former Vice Chancellor of Australia National University, former Chief Scientist, current Chair of the Health and Medical Advisory Group and Fellow of the Australian Academy of Science.
- Professor Fiona Wood AO, former Australian of the Year, pioneer of “Recell” spray-on skin, Director of Royal Perth Hospital Burns Unit and Winthrop Professor in the School of Surgery at the University of Western Australia.
- Dr Kate Cornick, CEO of LaunchVic (Victoria’s startup agency), Non-Executive Director at the Victorian Government Innovation Panel and the Australian Information Industry Association, former CEO of ASX-listed Rision Ltd.
The Panel is being asked to assess the benefits to economic growth and productivity from a more purposeful approach to R&D.
Specifically, they will consider opportunities to:
- Maximise the value of existing investment in R&D
- Strengthen linkages between research and industry
- Support the achievement of national priorities
- Drive greater R&D investment
- Uplift Australia’s overall R&D intensity
Terms of reference for the examination are available at: www.industry.gov.au/StrategicR&D
The examination will report its findings by the end of 2025.