Innovation is the driver of every modern economy – it is the key to competitiveness, employment growth and social well being. The cycle of innovation must be fed by new ideas and basic knowledge which are capable of being transferred and accepted by end-users.
Our international partners and competitors are investing heavily in their SET bases. Clearly the pace of development is quickening. For Australia to participate and thrive, we must, first, be part of this international process and, second, be committed to developing an innovation process for pursuing scientific advances and implementing them successfully. It is not sufficient for Australia to be a fast user of other nations’ technology. We must have leading edge capabilities so that we can develop pioneering technologies that will ensure the competitiveness of our industry in the global marketplace of the future. Global customers are both discerning and demanding.