Tuesday, June 22, 2010

Innovation nation: Why Australia needs an innovation system | Business21C

Innovation nation: Why Australia needs an innovation system | Business21C: "This is an urgent issue and one that the country cannot ignore. The good news is that, with the Cutler Review into Australia’s innovation system, Venturous Australia, we have identified what has been sorely missing in the Australian innovation environment: any kind of national innovation system in which things are connected.

Government and public agencies, research and education institutions, finance and venture capital – none of these have operated in any coherent relationship with each other.

With the innovation review and the follow-up white paper, Powering Ideas: An innovation agenda for the 21st Century, published by the government with the Federal Budget in May, the pieces of the innovation jigsaw are being put together. Crucially, we are starting to look at new sources of innovation over and above the traditional, linear approach of funding public research in the hope of transferring scientific discoveries to the market – important as that is."

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