Supporting the annual Science Meets Parliament Address to the National Press Club
21 March 2024
MTPConnect has once again supported the National Press Club Address by incoming Science and Technology Australia’s President Professor Sharath Sriram, as part of the ‘Science Meets Parliament’ initiative being delivered this week in Canberra.
Described as a ‘Commercialisation Champion’, Professor Sriram, began his two-year term as Science and Technology Australia’s (STA) President in November 2023.
He jointly leads the Functional Materials and Microsystems Research Group at RMIT University, Melbourne, with Madhu Bhaskaran, creating and delivering breakthrough technologies in nanoelectronics, sensors, and medical technologies. He is focused on translating technology for healthcare, to bring science fiction to reality.
His remarkable track record with a team of nearly 50 staff includes developing smart bedding products for aged-care support, a wearable for continuous molecular monitoring, and miniature biosensors for monitoring respiratory illnesses.
To a room packed with STEM leaders and VIP guests including Australia’s Chief Scientist Dr Cathy Foley, Prof Sriram made a powerful case for rapidly reaching the 3% GDP target to turn Australia into an innovation nation, warning of the consequences of failing to do so.
He explained that Australia’s spending on economy-boosting R&D has been in decline for more than a decade. At 1.68% of GDP, we are now well below the OECD average of 2.7% and far behind the world’s top performers.
This under-investment means we are failing to keep up with a transforming world and missing out on a long-term strategy to improve Australian prosperity and wellbeing.
In his address, he outlined the opportunities to connect the innovation ecosystem towards getting to a target of 3% of GDP, and how it requires government, business, and the education sectors to work together.
The Australian economy would be $100 billion bigger and boosted by 42,000 new jobs by hitting a target of investing 3% of GDP in research and development, based on STA’s analysis.
He also shared his own personal story about how he created more than $9 million in commercial partnerships for his university RMIT.
MTPConnect Chair Hon Jaala Pulford, with MTPConnect CEO Stuart Dignam hosted a table of guests including Bellberry's Kylie Sproston, CSIRO’s Erica Kneipp, Monash University's Professor Ian Meredith AM, Australian Academy of Technology and Engineering's Kylie Walker, Jamie Snashall from the Office of the Minister for Health, and Embassy of Switzerland in Australia's Science attaché Tristan Piguet.
To find out more about Professor Sriram’s story, take a look at his Address or watch on ABC iView.
Science & Technology Australia gives voice to 225,000 scientists, engineers & technologists, and runs Science Meets Parliament to forge deeper connections between federal Parliamentarians and those working in the science and technology.