Australia’s Future in Research and Innovation—2016 Parliamentary Committee
Submission OverviewThe ECA is encouraged to see the current Australian Government elevating the importance of innovation to the Australian economy. Our prosperity as nation will result from an economy focused on innovation and productivity. The ECA believes research and innovation can play an important role in overcoming Australia’s geographic, economic and labour challenges.
Australia is seen internationally as an innovation leader; our innovation input (such as research and human capital) was ranked 10th in the 2014 Global Innovation Index, while we ranked 22nd in innovation output. Australia’s Innovation efficiency ratio ranking however, sits at 81st— indicating that we are not fulfilling our innovation potential.
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