"Australian Industry Group welcomes the launch of Australia's Economic Accelerator (AEA) and its capacity to engage with industry at last," Innes Willox, Chief Executive of the national employer association Australian Industry Group said today.
"While R&D is crucial for first-to-market innovations, industry has the essential parts in the innovation jigsaw puzzle through its ability to effectively commercialise Intellectual Property (IP) by providing the necessary infrastructure, resources, and market access, resulting in job creation, increased competitiveness, productivity, and economic growth.
"The OECD's most recent innovation report ranks Australia at the very bottom regarding research-industry collaboration and for the commercialisation of public sector research.
"The AEA has not only a critical role in accelerating the commercialisation of IP at early stage Technology Readiness Levels (TRL) but driving very necessary cultural change through Australia's public research sector, making it more agile, client focused and aligned with industry's needs. We look forward to our members engaging with the AEA's Priority managers when they are announced.
"The recently announced AEA Board and its composition will underpin whether the AEA will achieve its lofty goals. It is pleasing to see a solid balance of industry, research and sector expertise that will inform the decision-making process behind its programs," Mr Willox said.
