News

3 November 2011

Maximising the Innovation Dividend

Australia's Chief Scientist, Professor Ian Chubb AC, will lead a new committee to guide Australian Government research investment, ensuring it meets the nation's strategic priorities and delivers long-term prosperity and security.

Releasing the Focusing Australia's Publicly Funded Research Review, Innovation Minister Senator Kim Carr said the Labor Government had increased its support for research, science and innovation since taking office by 43 per cent to $9.4 billion this financial year.

"The review reinforces that the Government's innovation agenda and increased support for research is working. This is vital to securing our nation's future because world-class research is the key to creating the opportunities, industries and jobs of tomorrow," Senator Carr said.

"Australia's research system is highly productive and is generally performing well. But we can't rest ‑ we need to make sure that our investment in research is flowing into and driving the rest of the innovation agenda. That is why the Government has accepted four major recommendations from the review that will strengthen our national innovation system," Senator Carr said.

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