Federal Government launches Global Innovation Strategy to support growth

09 November 2016

The Global Innovation Strategy, under the National Innovation and Science Agenda, has been launched by Minister for Industry, Innovation and Science, the Hon Greg Hunt.

The strategy has been developed as the key international measure of the National Innovation and Science Agenda, to help Australia compete on an international level through innovation and science engagement activities.

The strategy includes $36 million invested over four years via four new initiatives such as the Regional Collaborations Programme – a $3.2 million programme established to deliver solutions to shared regional challenges in the Asia-Pacific region through multi-partner research and collaboration activities.

The $16.5 million Global Innovation Linkages programme supports groups (or consortia) of Australian industry and research organisations with grants—up to $1 million per grant over a maximum of four years—to engage with international partners to undertake research and development projects.

The strategy aligns existing initiatives and support for international innovation and science engagement with the desired outcomes of the agenda, including harnessing new sources of growth to deliver the next age of economic prosperity in Australia. It addresses vulnerabilities and challenges through international collaboration and startup support and shifts engagement towards multi-partner collaborative projects. It aims to build on research and industry links to create commercial partnerships that will improve the global reach of Australia's economy through innovation.

In a message on the launch, the Hon Greg Hunt said “The strategy acknowledges that industry, science and research play a critical role in helping to secure existing jobs, capitalise on the opportunities from emerging jobs and discover future job opportunities.”