Tag: innovation

University Research Commercialisation

The Australian Government is undertaking a scoping study to understand how to best implement a University Research Commercialisation Scheme to better translate and commercialise university research outputs. It has appointed an Expert Panel and issued a Discussion Paper.

Research Australia’s response to the Discussion Paper addresses the role of ‘Missions’, the use of stage-gating and the role of co-funding by Governments, universities and industry. It highlights the critical need to better align existing funding programs and fill the gaps to provide a more seamless approach to research funding from basic research through to commercialisation.

Research Australia’s submission is available here.

2021 Pre Budget submission calls for renewed investment in R&D

Research Australia’s Pre Budget submission to the Treasurer ahead of the 2021 Budget  focuses on the vital role of health and medical research and innovation in Australia’s  response to the COVID-19 pandemic, and the manufacturing and innovation opportunities that health and medical research presents for Australia’s economic recovery.

It calls for renewed investment in R&D by the Australian Government, continued support for universities and medical research institutes with meeting indirect research costs, and measures to support medical products R&D and manufacture. The case for increasing NHMRC and ARC funding is also made. Funding for Government initiatives in data sharing and preventive health are among other measures sought.

Research Australia’s submission is available here.

Medical Products Roadmap Consultation

Research Australia has responded to the consultation being undertaken by the Department of Industry, Science, Energy and Resources to support the development of a Medical Products Manufacturing Roadmap under the Modern Manufacturing Initiative announced in the October 2020 Budget. Medical products is one of six strategic areas being targeted under the MMI for Government spending of $1.3 billion over five years.

The Consultation was undertaken using an electronic survey restricted the length of the response to each question. Research Australia’s response emphasises:

    • the opportunity to support the manufacture of products and materials for clinical trials;
    • the opportunity this provides to scale to full scale manufacturing, keeping the full scale manufacturing of medical products developed in Australia on shore; and
    • the opportunity to support manufacturing in high value medical products.

Research Australia’s submission is available here.  These proposals were further developed in Research Australia’s January 2021 Pre Budget submission, available here.

The Government subsequently released the Medical Products National Manufacturing Priority Roadmap in February 2021. Research Australia’s proposal to support manufacturing for clinical trials as part of the Roadmap was adopted, and identified as a pathway to scaling up of manufacturing capability. The Roadmap is available here.

COVID-19 Impact on Health and Medical Research and Innovation

Research Australia’s submission to the Senate Select Committee on COVID-19 has sought to highlight the significant and lasting impact the pandemic will have on Australian health and medical research and innovation.

Research Australia’s recommendations to the Inquiry are:

    • The establishment of a national whole of governments review of Australian research and innovation to properly quantify the impact of the COVID-19 pandemic on the sector.
    • Commitment to a comprehensive, fully funded strategy for how and where research and innovation will contribute to Australia’s future prosperity and wellbeing.
    • A short-term injection of additional Government funding into research in Australia’s universities and MRIs to preserve existing research capacity while the economy recovers.
    • Extending the JobKeeper scheme to universities would be a good place to start, as would redressing some of the rules that have prevented some MRIs from accessing JobKeeper because of their governance arrangements.

Research Australia’s submission is available here.

The Committee published three interim reports before publishing its final report in April 2022. The Committee’s reports are available here.

Changes to R&D Tax Incentive opposed

Research Australia has used its submission to a Senate Inquiry to argue against the latest round of changes to the R&D Tax Incentive that have been proposed by the Government.

The changes contained in the Treasury Laws Amendment (Research and Development Tax Incentive) Bill 2019 are largely the same as the changes the Senate rejected early last year. Research Australia believes the changes are poorly designed and will significantly reduce R&D in the health sector. With expenditure on the R&D Tax Incentive Scheme having fallen dramatically in the last couple of years and with Government support for R&D at an historic low, Research Australia has urged the Senate Committee to reject the changes again.

Research Austrlaia’s submission is available here.

The submission of an alliance of seven groups from across the health and medical research and innovation sector, including Research Austrlaia, is available here.

The Committee’s final report has been delayed and is now to be tabled in the Senate on 24 August.

Pre Budget submission calls for renewed investment in R&D (December 2019)

Research Australia’s submission to the Treasurer ahead of the 2020-21 Budget has used the Government’s own figures showing a drop in R&D investment by Government and business to call for a renewed focus on research and development, including health and medical research. In addition to greater investment in R&D across the board, Research Australia has called for increased funding for the research programs of the NHMRC and ARC; action to make better use of data; and investment in prevention.

To read Research Australia’s submission and the full list of recommendations, click here.

2030 Strategy for Science, research and innovation

As we are all too aware, Australia scores poorly on the translation of its research discoveries into new products and services. We need to improve the extent to which Australia’s research effort is directed to the questions and problems of greatest importance and how effectively our research is applied to provide solutions.

Bringing research and innovation together in the one Strategic Plan provides an opportunity to drive these improvements and to overcome some of the historic divides between programs to invest smartly in research and in programs to support and drive innovation. In addition to the research, innovation and investment communities, active engagement with the state and territory governments will be vital; it needs to be a ‘whole of governments’ strategy.

Just as importantly, the 2030 Strategic Plan needs a whole of community communication strategy to ensure all levels of society understand the imperative for a greater and more strategic investment in research, technology and innovation, and the benefits this can bring as we plan for the Australia we want in 2030.

Download Research Australia’s submission here.

BIG IDEA 2030

Bill Ferris AC, Chair of Innovation and Science Australia (ISA) recently floated the possibility of using major high-impact large scale projects to drive innovation. “In developing the 2030 Strategic Plan, we hope to identify one or more major, game-changing, initiatives with scale that can deliver significant direct and spill-over benefits to the innovation system and broader economy”.

Submissions for the 2030 Strategic Plan are due by the end of May. Now’s the time to to look into the future of science in this country, and you can shape the work you’re going to be doing for the next 20-30 years.

We are after BIG IDEA 2030 suggestions to include in our submission that will tweak the interest of Government and aim to position Australia as a global leader by 2030.

Need somewhere to start?

  • Your BIG IDEA 2030 will need to include several disciplines and cross-sector collaboration across health and medical research and innovation
  • Assume budget and timeframe are not limitations
  • Think Moonshot, think Square Kilometre Array, think BIG!

Please send your BIG IDEA 2030 to greg.mullins@researchaustralia.org and we’ll include it in the planning for our submission.
Continue reading “BIG IDEA 2030”

$500 million fund will help build Australia’s biomedical industry of the future

The Biomedical Translation Fund (BTF) is to be funded with $250 million over financial years 2015/16 and 2016/17, diverted from contributions originally earmarked for the MRFF.

The BTF will use existing commercial Fund Managers for co-investment on a 50/50 basis, with the investment managers to source the other co-investors. Continue reading “$500 million fund will help build Australia’s biomedical industry of the future”

Tax Incentives for early stage investors

As part of the National Innovation and Science Agenda (NISA) Treasury has undertaken a consultation on an initiative to provide tax incentives for early stage investors in innovative companies. Research Australia’s submission supports the proposal and suggests some amendments to improve its operation and reduce red tape. These include making registration for the R&D Tax incentive a qualifying condition for treating a company as an ‘innovation company’ in respect of which the tax incentive can apply, and allowing the tax incentive to be available to ‘retail’ investors. The tax incentive has the potential to increase the capital available to early stage innovative companies, including those seeking to commercialise new medicines, devices and therapies.

Tax Incentives for early stage investors