According to the NSW Innovation and Productivity Council, NSW’s performances in university-industry collaboration and commercialisation outcomes haven’t moved in years. At the same time R&D intensity is in freefall.
As the NSW Government works to restore the state’s fiscal position and rebuild essential services, there’s no room in the budget for spending that might not be delivering for the people of NSW.
The Innovation Blueprint will be drafted alongside sector leaders and experts to give NSW the leading edge in the global battle to attract new investment, ideas, industries and talent.
As part of developing the blueprint, the Minister for Innovation, Science and Technology will lead roundtables, including on venture capital, non-monetary government support, how to best encourage startup growth, industry adoption of innovation and attraction of skills and talent.
Roundtables discussions will help guide the development of the blueprint.
The Innovation Blueprint will put us in the best position to jump start innovation in new sectors and in important enabling technologies like quantum computing, artificial intelligence, data, cyber, sensors and robotics across sectors like energy, advanced manufacturing, healthcare and agrifood, all of which will be part of our future economic growth.
Minister for Innovation, Science and Technology Anoulack Chanthivong said:
“We support a strong innovation sector that delivers new, higher paid and productive jobs in high growth industries for people in NSW.
“The last government treated multi-million dollar grants as great headlines but beyond the spin they failed to fully fund their own programs and failed to treat taxpayer money with the respect it deserves.
“Getting this right will help us foster a strong innovation sector, create the industries that will fuel the jobs of the future, and attract talent.”
