17.09.2020Stimulating the Science and Research Ecosystem Creates Jobs and Investment

Australian Council of Learned Academies (ACOLA), commissioned by Victoria’s Lead Scientist, Dr Amanda Caples, has produced a report outlining the value of investing in science and research in Victoria that is of national relevance. It highlights the value of research across the economy, including the role current and any future investment can have in Australia’s recovery from COVID-19.

Victoria’s ecosystem comprises a range of factors, with universities playing a crucial part. They provide other organisations, including businesses and governments, with talent, knowledge, tools, technology and global relationships, supporting jobs and growth in Victoria and Australia.

The report takes a broader view, noting how, over time, the leveraging of many programs and activities at State and Commonwealth levels has resulted in the outcomes attained. Additionally, the report identifies high-level improvements for investment program design.

Over the last two decades, Victoria has focused on building a vibrant and productive science and research ecosystem by investing in research infrastructure (including skills), talent attraction and industry-led strategic capabilities. Major initiatives include facilities that provide access to shared high-technology equipment such as the Australian Synchrotron and the Melbourne Centre for Nanofabrication (MCN) and attraction of global talent through Veski and industry-led collaborative projects with universities.

This report provides the evidence base to support further investment in science and research infrastructure, skills, talent attraction and the use of contestable funding to catalyse industry-led innovation as part of stimulus measures for future jobs and economic prosperity.

Read the report here

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