Call to boost Aussie research funds as review launches

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Call to boost Aussie research funds as review launches

^{Published on 2024-12-02 04:32:47 - Tim Hastings, N@N}

A study of Australian research investments has been welcomed by business, academic and technology groups, but some say more urgent action is needed.

The article discusses the launch of a comprehensive review of Australia's research and development (R&D) system, prompted by concerns over the country's declining performance in global innovation rankings. The review, led by industry and science minister Ed Husic, aims to address the challenges faced by the R&D sector, including funding and policy support. There is a call from various stakeholders, including the Australian Academy of Technological Sciences and Engineering (ATSE), to significantly increase investment in R&D to at least 3% of GDP, up from the current 1.68%. This push for increased funding is seen as crucial for enhancing Australia's competitiveness in science and technology, especially as the nation has slipped in international innovation standings. The review will explore ways to improve the R&D tax incentive, encourage more private sector investment, and ensure that Australia's research capabilities meet future economic and societal needs.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/other/call-to-boost-aussie-research-funds-as-review-launches/ar-AA1v6gbu ]

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