Industry Research and Development Amendment (Innovation and Science Australia) Bill 2016 (CTH)
Monday 12 September 2016 @ 9.42 a.m. | Legal Research
The Commonwealth Government has re-introduced its Industry Research and Development Amendment (Innovation and Science Australia) Bill 2016 into the House of Representatives on 1 September 2016. The Bill will place innovation and science at the centre of Australia’s long-term plan for economic prosperity by establishing in law the Innovation and Science Australia Board to replace the current Innovation Australia Board.
Innovation and Science Australia
The Bill’s primary objective is to transition the current Innovation Australia Board to become the Science and Innovation Australia Board. The new body will extend the functions of the old Board with new activities and responsibilities. Innovation and Science Australia will work across government and directly with international, business and community sectors to develop extensive stakeholder links and improve the national innovation system’s overall performance. It will also develop a long term, fifteen year National Innovation and Science Plan to identify science, research and innovation investment priorities and specific areas for policy and program reform.
The Board will continue to be chaired by Innovation Australia’s Bill Ferris but will also see the appointment of Chief Scientist Dr Alan Finkel as Deputy Chair. According to the Minister for the Environment, Greg Hunt:
“Innovation and Science Australia will help us complete the first wave of the National Innovation and Science Agenda and to pursue the second wave, based on investment attraction and big science, and the 2030 strategic plan, which will guide our third wave, also focused on business simplification.”
Greater Opportunities
The Body consequently aims to directly engage, international, business and community sectors to improve the performance of technology and science systems on a national level. “Building our strength in science allows us to capture greater opportunities for our people,” Mr Hunt explains. He identified the push towards innovation and technology as Australia’s “driving force” to increase productivity and ensure that Australia’s businesses will continue to be competitive and maintain the community’s overall high standard of living.
Innovation and Science Australia will also provide guidance for government over how to best spend its budgeted $10.1 billion investment for 2016/17 in innovation, science and research. Mr Hunt highlights that innovation is all about job creation and is the keystone to improve business opportunities as well as a healthy economy.
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Sources:
Industry Research and Development Amendment (Innovation and Science Australia) Bill 2016, Bill, Second Reading Speech and Explanatory Memorandum as published on LawOne
