Science & Technology Australia today welcomed focus on enhancing industry-research collaboration in the review of the R&D tax incentive scheme.
The review, chaired by Bill Ferris, Alan Finkel and John Fraser, recommends introducing a collaboration premium of up to 20 per cent for businesses that work with publicly-funded research organisations, and that employ recent PhD graduates in science, technology, engineering and mathematics (STEM).
“Failing to make collaboration an objective of the scheme is to the continuing detriment of R&D in Australia, and STA is strongly supportive of measures to redress this,” STA Chief Executive Officer Kylie Walker said.
“Australia urgently needs to address its extremely poor inter-sector collaboration rate. Stronger collaboration is in the national interest.
“We are also strongly in favour of any measure that enhances employment prospects for STEM graduates.
“Studying science, technology, engineering and mathematics equips graduates with analytic, problem-solving and lateral thinking skills, with the ability to view failure as a learning opportunity, and with a thirst for knowledge and learning. These skills and attributes will be vital for the jobs and the economy of the future.”
In its formal response to the review, STA also applauded recommendations aimed at simplifying and streamlining the application process.