The Industry Minister has appointed Mr David Miles, AM, former Chair of Innovation Australia, to lead a review of the CRC Programme. 11 of the 36 existing CRCs are health related. Research Australia’s submission supports the existing CRC Programme and emphasises the social and economic benefits of CRCs in supporting the translation of health and medical research including, but not limited to, research commercialisation.
In the May Budget the Federal Government announced that it was replacing a range of existing industry support programmes, including Commercialisation Australia, with the Entrepreneur’s Infrastructure Investment Programme. In June 2014 the Department of Industry launched a discussion paper on the Programme, and Research Australia made a submission. Research Australia’s submission emphasised the importance of building collaboration between publicly funded research organisations and private sector entrepreneurs, the importance of viewing researchers both as a resource to entrepreneurs and potential entrepreneurs in their own right, and suggested a number of measures which would support the successful commercialisation of Australian public research.
The Government has invited submissions on the draft Terms of Reference for the Financial System Inquiry. The Inquiry, to report to the Treasurer in November 2014, ‘will make recommendations to foster an efficient, competitive and flexible financial system, consistent with financial stability, prudence, integrity and fairness.’
Research Australia’s submission has sought to have the terms of reference amended to specifically include consideration of how the financial system can better support productive innovative companies and ideas, as an essential element in commercialising the outcomes of Australia’s scientific research.
Each year the Treasurer invites the Australian community to make submissions in relation to the preparation of the budget for the following financial year. Research Australia recommended:
- A real increase in Commonwealth Government funding for health and medical research, to enable continued improvements in the health and wellbeing of all Australians.
- A specific allocation to fund the implementation and monitoring of the McKeon Review recommendations and the development of a coherent national health and medical research strategy
- Increased funding for health systems research to increase capacity to analyse and identify best practice for the Australian health care system and to increase research into the most successful, effective and efficient delivery mechanisms and structures for implementing best practice.
- Increased funding for research to support the effective and rapid translation of new discoveries into practice.
- Greater funding for population health and preventive health research to improve the effectiveness of preventive health campaigns and identify emerging trends in the health and disease profile of the Australian population.
- Retention of the R&D tax credit as an important mechanism for supporting the commercialisation of Australian research.