NEW REPORT OUT NOW
02/07/2013
Innovation Australia, Chair, David Miles AM has told CEDA's State of the Nation 2013: "An educated, skilled workforce is essential for innovation performance (because) such a workforce is able to generate and implement new ideas."
"An important point for policy makers is that a lack of skilled people is one of the highest reported barriers to innovation reported by Australian business in recent years," he said.
"The services sector in Australia, 80 per cent of our economy, is an example of the importance of knowledge-based capital.
"As well as investment in machines, equipment and structures, many firms are increasingly investing in knowledge-based capital as part of their innovation and growth strategies.
"Research shows that innovative businesses are also 42 per cent more likely to increase profitability, three times more likely to export, and 18 times more likely to increase the number of export markets targeted.
"International studies show a positive relationship between investment in knowledge-based capital and productivity improvements.
However, Mr Miles also said: "We should not be frightened of that fact that we (Australians) are good adapters and adopters as well as inventors and creators."
"We need to engage with international partners to leverage the 98 per cent of knowledge produced outside Australia," he said.
Deakin, University, Vice-Chancellor and President, Professor Jane den Hollander said it's the role of universities to innovate in order to educate for the jobs of the future.
"To accelerate innovation in our economy universities must and will deliver teaching and research and the people and the partnerships that will address the needs of our communities, our evolving economy in a digital economy and our nation," she said.
"We've learned it's what happens in the community that matters. To succeed and for us to be innovative we not only have to engage but we have in engage in the problems of our communities.
"At Deakin we are changing the way we educate. Our internal innovation is to change and to set the target to become Australia's premier university in driving the digital frontier."
CSIRO, Chief Executive, Dr Megan Clarke said: "Innovation is relevant for this country in exactly the same way it is for any developing nation, which are pinning their competitiveness and productivity on innovation."
"We have some wonderful opportunities to pursue in this country, including I think the opportunities for the innovation system itself to increase its productivity," she said.
"One of the critical things is that Australia has the scale to compete on the global stage, that we put the very best that Australia has to offer together and that we form both scale and global policy at all levels."
Dr Clarke said there is "untapped potential in northern Australia," and it's about more than the soil, plant varieties and types of animals in the north.
This is also a logistical and network opportunity, she said.
"The transport, logistics, the roads, the upgrade of infrastructure in the north will require a systematic study," she said.
Dr Clarke also said CSIRO had been working with some companies and they believe that Australia "can and should have a titanium manufacturing industry".