The Industry Growth Centres Initiative outlined by the Australian government identifies the top five priority industries for the country. As part of its Industry Innovation and Competitiveness Agenda, this initiative aims to foster productivity and growth by focusing on the innate strengths of the region, enabling Australia to transition to delivering more exports-centered industries for its ongoing prosperity.
With a $188.5 million investment by the government, Industry Growth Centres will be established for the following five areas in which Australia already has a position of strength:
- Advanced Manufacturing
- Food & Agribusiness
- Medical Technologies & Pharmaceuticals
- Mining Equipment, Technology & Services
- Oil, Gas & Energy Resources
One of the main pillars of this initiative is to improve the engagement between research and industry, strengthening coordination and collaboration between research and commercialization in the growth sectors.
To support this goal, and to identify the current state of research and innovation across the five main areas, analysts from Thomson Reuters explored the scientific research and innovation activity of each sector. The following is a summary of the findings, and a benchmark for progress as the initiative gets traction and unfolds.