The Australian Academy of Technological Sciences and Engineering established an Industry and Innovation Forum in July 2014 to address one of the key ‘challenge areas’ for the Academy. and for Australia. The Chair of the Forum is Kathryn Fagg, with Deputy Chairs Ron Johnston and Tom Spurling, supported by a large number of Academy Fellows. The Forum has identified three major focal issues: reducing regulatory, financial, cultural and institutional barriers to extracting value from technology, focussing publicly funded-research on the future needs of Australia, and assisting Australia‚Äôs industries to be more competitive by adopting a dynamic balance between appropriate types of technologies and innovation.