Government closed AEA and redirected more funds to CSIRO. The sector sees devastating cuts, but maybe the government is recognising departments lack capability for commercial translation. That’s not failure, that might be progress
Why SERD consolidation into NSIs destroys the commercial relationships Australia’s innovation system needs.
The R&D review diagnoses correctly, but designs conservatively for the greater good. Australia’s existing companies that could be the translation engine, remain overlooked.
IISA identifies medium-sized enterprises as Australia’s missing middle, the Growth Centres proved it works: $1.23 billion returns on $305 million invested. Why does this compelling evidence get ignored?
Australian innovation policy is coming off peak government enthusiasm but starved of support. Ministers celebrate WiFi, CPAP devices and polymer banknotes in keynote after keynote – meanwhile Australian programs get defunded and local companies are left to fend for themselves.
Australia ranks 105th of 145 countries in economic complexity. International firms pay billions to acquire successful Australian technology companies, while Australian industry policy funds research institutions while starving local vendors of scaling support to do more onshore.
Institutions claim innovation risk but face no consequences when commercialisation fails. Companies face risk across market access, technical integration, financial infrastructure, organisational capability, and reputation. Policy credits institutions for the returns companies deliver.
Commercialisation exists across Australia, from SME’s to global corporates. 3ME Technology, IMDEX, Ampcontrol, and James Hardie systematically showcase the capability policy makers try to create through institutional coordination. The question is why policy makers can not recognise this capability already exists.
Great products fail in weak companies. Mediocre products win in strong companies. Current policy obsesses over Technology Readiness Levels while ignoring a critical truth: innovation success operates on two dimensions, not one.
Australian innovation policy designs bridges between research institutions and end-user companies, bypassing the bridge builders; Australian technology companies with proven capabilities to carry innovation to global markets.