Australia 2030: Prosperity through Innovation – summary of ISA 2030 plan

Australia 2030: Prosperity through Innovation – summary of ISA 2030 plan

7th February, 2018

The Australian Government tasked Innovation and Science Australia (ISA) with developing a strategic plan for the Australian innovation, science and research system out to 2030.

In January 2018, ISA delivered the report ‘Australia 2030: Prosperity through Innovation’. The report aims to contribute to the wellbeing and prosperity of all Australians by strengthening Australia’s innovation performance to become a leading innovation nation.

The report includes a total of 30 recommendations to the Federal Government in five key areas – Education, Industry, Government, Research and Development and Culture and Ambition.

AAMRI welcomed the release of the report and is pleased to see that the recommendations it made in its submission to the report on access to international talent, gender equity in science, and improving research training collaboration opportunities between research organisations and industry.

The following recommendations are of particular relevance to the medical research sector:

  • Establish a “National Mission” for Genomics and Precision Medicine to help make Australia the healthiest nation
  • Strengthen efforts in talent attraction from overseas through continually improving and updating skilled migration rules marketing to suitable talent, especially through Austrade
  • Increase commercialisation capability in research organisations by establishing a new stream of funding for translational activities
  • Establish secure, long-term funding for national research infrastructure
    Invest in developing a more effective framework to evaluate the performance of Australia’s innovation programs, including introducing a requirement that new government funding programs aimed at supporting innovation will dedicate 2 per cent of their budget for the evaluation of outcome
  • Support the development of innovation metrics and methodologies to fully capture innovation and link it to economic, social and environmental benefits. In particular, request the Australian Bureau of Statistics (ABS) and the Department of Innovation to review business and research and development data collections to ensure they are fit for purpose; and commission an independent body to review existing innovation metrics.
  • Evaluate the impact in 2022 of recent changes to incentivise collaboration, covering funding changes, progress on addressing the findings and recommendations of the Review of Australia’s Researching Training System, and progress on ensuring that university career paths allow for flexibility between industry and academia
  • Reverse the current decline in business expenditure on R&D by:
    • improving government support for science, research and innovation
    • ensuring the minimum government support for science, research and innovation remains above its medium-term average of 0.63 per cent of gross domestic product
    • implementing the recommendations of the 2016 Review of the R&D Tax Incentive with some adjustments ($4m per year cap, $40m lifetime cap per company; trigger of 1% total annual expenditure before claiming).
  • Introduce an industry tax offset of up to 20 per cent to incentivise collaboration between research organisations and industry
  • Enhance efforts to help SMEs access export markets by increasing funding for Export Market Development Grants
  • Encourage investors to pursue opportunities that provide social and economic returns by strengthening the existing policy environment
  • Improve provision and use of open government data by developing government capability and capacity to deliver accessible, accurate and detailed public data
  • Evaluate the benefits of scaling-up higher degree training in industry through research placement program