Anna-Maria Arabia says our scientific innovation is world class but is at risk if the government and private sector stop investing.
Australia loves its sport champions, actors and writers. But we rarely sing the praises of our scientific innovators.
Yet Australia is amongst the world leaders in medical science and astronomy just to name a few.
Australian scientists invented our indestructible dollar bills, the iconic Aeroguard, the bionic ear, and the life changing wi-fi technology used in computers around the world.
Funding for science is well below the OECD average and with growing international competition Australia stands to fall further behind the pack.
As Anna Maria Arabia, the CEO of Science & Technology Australia tells 3Q’s Sarah Macdonald, Australian innovation will not reach its full potential if we don’t adequately invest in the development and commercialisation of Australia’s world class research.
Check out S&TA’s website Respect the Science which gives an insight into the science research process and to show the importance of the work scientists do.
Anna-Maria explains that rather than boosting innovation and entrepreneurial activity one of the key government programs that supports early stage venture capital is drawing to a close.
She also tells 3Q about a recent summit that brought together the superannuation industry and the science sector to investigate potential investment opportunities to support Australian innovation.
The Minister for Financial Services and Superannuation, Bill Shorten, will lead a trade mission to Israel with superannuation and science representatives to better understand Israel’s innovation system that has lead to more start-ups than Japan, India, Korea, Canada, the UK and Australia.