How can we help to guide investment in collaboration and innovation?
The Australian Government is focusing on encouraging innovation in order to increase jobs which will be relevant to the society we live in for years to come. A key weakness of the Australian innovation network which was identified is that there are ‘few direct mechanisms to support knowledge transfer’.
The Government has the potential to help influence innovators to work together and increase knowledge transfer between organisations by incentivising collaboration, as other nations (eg France) have done.
A recent review of the tax incentives currently provided to encourage innovation has recommended that additional support be provided to boost collaboration.