Tesla chair Robyn Denholm to lead Australia R&D review
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The news: Minister for Science and Industry Ed Husic has announced a review of Australia's research and design (R&D) system, and has appointed Tesla chair Robyn Denholm as one of four experts to lead it.
The other panel members are former chief scientist of Australia Ian Chubb, surgery pioneer Fiona Wood and LaunchVic chief executive Kate Cornick. They will report findings by the end of next year.
The context: Denholm is also chair of the Tech Council of Australia, a body representing Australia's tech industry, which has made boosting the country's R&D investments a priority areas.
Australia spends 1.7% of its GDP on research and development, according to a 2021 CSIRO data, much lower than the 2.7% OECD average. Every dollar invested in R&D yields a $3.50 benefit for the economy, CSIRO said in a report released the same year.
The four panelists will analyse the potential benefits boosted R&D schemes would have for the Australian economy, how academia and industry can better work together, and explore policies that could improve both the quantity and quality of R&D in the country.
What they said: “Australia has ambitious goals to become a thriving economy that leverages its greatest resource, our extraordinary people," Denholm said.
"While we excel at producing world class research, it is now imperative to focus on development and commercialisation to realise the full impact of our efforts."
Husic added: “Our ideas and intellectual property are an indicator of future economic success".
"This review is designed to give us an evidence-based pathway to stronger growth. It’s been almost 20 years since we asked the hard questions about our R&D performance, despite the alarming slide over the last decade."
The sources: Minister for Science and Industry, OECD, CSIRO
