This inquiry looks at the challenges to Australian industries and jobs posed by increasing global competition in innovation, science, engineering, research and education.

Innovation has consistently been acknowledged as a fundamental driver of productivity and economic growth which can deliver positive social and environmental outcomes by peak international bodies, key industry stakeholders, government and academia. This view was repeatedly emphasised throughout the course of the inquiry. It was also highlighted in the committee's interim report.

The committee makes five recommendations, including that the education system be accorded a central focus in the Australian Government's long-term innovation strategy, thereby acknowledging the central importance of the interplay between the STEM subjects and the humanities, social sciences and creative industries.