Ambitious Australia: Reforming Research & Innovation

0:00I'm Cory with the story, and this is your Pulse of the City, Adelaide News Today. A major new report warns that Australia's research and innovation system is broken, and calls for bold reforms to catch up with other nations. Titled ambitious Australia, it was commissioned by the federal government in December 2024, and led by Tesla Chairwoman Robin Denholm. The document highlights how the country has slipped behind peers, with manufacturing making up the smallest share of gross domestic product among. Developed economies and research spending at just 1.69% of gross domestic product in 2023-24, down from a peak of 2.24%. Earlier this week, the report pointed to a heavy reliance on resource exports, like iron ore and coal, which have crowded out high-value manufacturing, and innovation. Back in the 1980s and 90s, boosts in public spending help drive strong productivity growth above the OECD average, and fueled. Experts of complex products, but from 2010 to 2020, productivity hit its weakest point in six decades.

1:04Meanwhile, experts note the fragility of Australia's prosperity, linking declining manufacturing to lower research commitments. The report stresses rebuilding the system, including more support for Blue Sky research, that leads to breakthroughs like Wi-Fi from Black Hole Math. Work at CSI-00. The plan includes 20 recommendations, such as better foundational research funding, streamlined programs, business incentives, startup financing, and tying research to public buying. It also pushes for a National Innovation Council to coordinate across six pillars, health, agriculture, defense, energy, resources, and technology. Looking ahead while the idea is strong, some worry about added bureaucracy and gaps, like evaluating tax incentives or regional roles. The real test comes in shaping the 2027 federal budget to turn these into action. Support for this DNN episode comes from our sponsor. Some people meditate, I just lay down and press play, S-O-L-L-I, solelypillow.com.

2:05Made in AI.