As a key, business-focused element of the Economic Action Strategy, the Industry Innovation and Competitiveness Agenda brings together and builds on the Government’s other economic reform efforts to make the most of Australia’s strengths and business opportunities.
Through the Competitiveness Agenda, the Government aims to achieve four overarching ambitions:
- A lower cost, business friendly environment with less regulation, lower taxes and more competitive markets;
- A more skilled labour force;
- Better economic infrastructure; and
- Industry policy that fosters innovation and entrepreneurship.
Better translation of research into commercial outcomes is a key part of this and will help drive innovation in Australia, grow successful Australian businesses and research capacity, and boost productivity and exports. It aligns with the Government’s measures to reform the higher education sector and to realise the potential of health and other research.
The Government is keen to consult the research and business communities and other interested parties on how best to achieve this, and invites responses to the issues and options raised in this paper.