Business News

  • Written by Senator Cash

The Turnbull Government today welcomed the release of Australia 2030: Prosperity Through Innovation, prepared by Innovation and Science Australia. The plan sets out a vision for Australia to become a top tier innovation nation by 2030.

The 2030 Plan was released at Astor Industries in Lakemba, who in partnership with Dresden Optics is using recycled plastics to create glasses frames that Dresden Optics is selling in stores across Sydney and Melbourne.

Their partnership has seen Dresden Optics grow from an idea to become a successful local business. Astor has diversified its business and helped create new opportunities for existing workforce. They are literally creating new jobs from the shop front through to the factory floor.

Each of these companies has benefited from Government support, and has just received new funding to research the use of recycled plastics even further.

These companies working together show that innovative thinking can be a job creator.

The 2030 Plan seeks to create a high performing innovation system that will be integral to Australia's future and companies like Astor and Dresden. The plan builds on the Government’s National Innovation and Science Agenda (NISA).

Since the NISA was launched, record levels of funding has been raised in the private sector that is available to small and innovative companies. The NISA STEM programmes are reaching thousands of children to inspire the next generation of scientists and entrepreneurs, and the Landing Pads are helping Australian businesses get a foothold in overseas markets.

The plan makes 30 recommendations – ranging from education and training to research, development and regulation – to support Australia’s innovation system and make us a world-leader.

Minister for Jobs and Innovation, Michaela Cash said the Government can and should play a leading role in creating an Australian innovation culture which is the reason we launched the NISA.

“The Government welcomes this report and has already moved to action some of the recommendations, such as our commitment last week to fund ground-breaking research to preserve the Great Barrier Reef. Helping to secure 64,000 jobs reliant on it, and the $6.4 billion contribution it makes to the economy.” said Minister Cash.

“In regards to research infrastructure, we have already provided $70 million for the NCI supercomputer at ANU, and the Government is preparing a full investment plan in response to the Chief Scientist’s National Research Infrastructure Roadmap”.

The Government will carefully consider ISA’s recommendations and how it can build upon existing measures including those implemented under the National Innovation and Science Agenda.

The Government will continue to support Australian small and family businesses as part of its innovation and science agenda. Small businesses are the engine room of job creation and a key part of the innovation system so it’s important they can grow and diversify.

“Innovation is creating the jobs of tomorrow. Every Australian can benefit from and be innovative regardless of age or job, and for us to become a top tier innovation nation we need everyone to be involved.

“Last year we had record jobs growth and it is small high-growth firms that are significantly contributing to the creation of these jobs.

“Through further investment in the small and innovative business sector we can ensure we continue our record jobs and GDP growth.”

The Innovation Science Australia report Australia 2030: Prosperity Through Innovation can be found here: https://industry.gov.au/Innovation-and-Science-Australia/Australia-2030/Pages/default.aspx

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