Expert panel to review Australia's R&D system for maximum impact
A comprehensive review announced today aims to assess how Australia's research and development system can better support economic growth, productivity, and commercial outcomes.
The federal government has announced a detailed review of Australia's research and development (R&D) system, the first of its kind in nearly two decades.
The examination was announced by Minister for Industry and Science Ed Husic and Minister for Education Jason Clare, who said the review reflects the government’s commitment to fostering innovation and competitiveness.
"Intellectual property, ideas, will drive, sustain, strengthen economies. Ideas, innovation, know-how matters, and R&D is something that we should be pressing for in our country and to improve the way we invest in it," Minister Husic said.
He noted that while Australia excels in research, it struggles to translate these strengths into stronger economic outcomes, making this review both timely and necessary.
Currently, Australian government R&D funding spans 14 portfolios and 151 programs, potentially diluting its impact.
To be led by a panel of experts chaired by Tesla Chair Robyn Denholm, the review will examine ways to enhance the economic and societal impact of R&D by fostering better connections between research institutions, industry, and government.
The panel has been tasked with identifying opportunities to improve R&D outcomes in areas including:
- Increasing the impact of current R&D investment.
- Strengthening connections between research and industry.
- Aligning efforts with national priorities.
- Encouraging more R&D investment.
- Raising Australia’s overall R&D intensity.
The panel includes Denholm, Emeritus Professor Ian Chubb AC, former Chief Scientist; Professor Fiona Wood AO, a pioneer in medical innovation; and Dr Kate Cornick, CEO of LaunchVic.
“Australia has ambitious goals to become a thriving economy that leverages its greatest resource, our extraordinary people," Ms Denholm reflected at the announcement.
"While we excel at producing world-class research, it is now imperative to focus on development and commercialisation to realise the full impact of our efforts.”
“My objective for this review is to unlock the immense potential of Australian research by turning it into tangible outcomes that deliver both economic and societal benefits," Ms Denholm said.
