Traditionally, the landscape of innovation has been dominated by locations such as Silicon Valley or New York. However, a contemporary urban model is now emerging around the globe, giving rise to what is known as “innovation clusters”. By definition, innovation clusters are described as groupings of independent undertakings — innovative start-ups, small, medium and large undertakings as well as research organisations — operating in a particular region and designed to stimulate innovative activity. Fittingly, Australia’s latest Prime Minister has recently pinned […]
Using the medical technology (medtech) industry as an example, we pose the question: do policy changes fuel innovation, or are they merely a reaction to emerging trends? Over the last three decades, medical technologies have transformed many previously untreatable diseases into manageable long-term conditions. However, as the global disease burden evolves there is a continuing need to develop new and more effective medicines. As a result, companies operating at the intersection of technology and medical science are attracting increasing attention as […]
Undeniably, we live in the so called “digital age”. Innovation has formed an important role in our modern society and has been touted as the blueprint to success by the Turnbull government. It plays a key role for medical and environmental improvements, and by its commercialisation, the digital industry also has potential material economic impact. Thus, it is crucial to fully understand innovation’s drivers and processes – from both a socio-economic and a business perspective. Within this scope, adequacy financing […]
In launching the National Innovation and Science Agenda last year, the Australian Government announced that they would be undertaking a review of the Research and Development (R&D) Tax Incentive programme to make it better accessible to the business sector. At present, the review is currently underway and it is expected to report to Government in April 2016. Proposing the question, does Australia’s R&D Tax Incentive need changing? The Current Performance In its current form, Australia has a competitive R&D tax […]