Innovation

The future of Australia’s economic success depends in large part upon the development of effective strategies and policies for science, technology and innovation in both the public and private sectors. The creation and creative use of technology underpins the emergence of the ‘knowledge economy’. R&D-intensive industries in OECD countries have higher wages, a greater capacity to create jobs and higher rates of profit.

The most productive and fastest growing economies are developing innovative capabilities as core corporate and public-sector strategies. If they do not, it is unlikely that they will be able to maintain their existing levels of long-term economic growth in the face of new and dynamic competitors. Whether its impact is considered at the level of the nation or region, particular industry or individual company, technological innovation and its effective management is a matter of critical importance.

The Australian Centre for Innovation has been active in this field for almost thirty years addressing a broad range of issues, including priority setting for research, research evaluation, R&D management, technology strategy, technology assessment, science and technology indicators, intellectual property management, technology transfer, impacts of technological change on employment, technology and regional development, and the economics of innovation.

What We Offer

  • Established metrics to audit an organisation’s Innovation performance and potential
  • A series of instruments to guide the formation and testing of innovation strategies
  • A process designed for the Board level to examine the relationship between emerging technologies, markets and company strategy – to check on positioning and risk, identify internal constraints, and find areas where innovation could make a greater contribution to organisational goals

Globalisation

Globalisation encompasses the increasing convergence and interdependence of national economies and of the international scope and availability of markets, distribution systems, capital, labour and technology. It has been responsible for much of the economic growth of the past twenty years, including the emergence of many developing economies. But it is also seen as responsible for the decline in employment opportunities for the minimally skilled, in whichever country they reside

The trend towards globalisation has been evident in the pattern of sustained growth in world trade and investment flows. Growth in the world economy has become more trade-intensive. At the same time, international flows of capital, technology and knowledge are becoming far more important as determinants of economic returns than are flows of goods.

One key driving force in the globalisation process is the convergence of national economic and social systems. In terms of the structure and specific nature of industrial and consumer demand and in distribution systems, marketing and infrastructure, countries are becoming increasingly similar. Convergence in the product demand and factor costs leads to convergence in the demand for new technologies.

What We Offer

  • Analysis of risks and opportunities associated with emerging technologies
  • Design of infrastructure and a regulatory environment to support the effective exploitation of emerging technologies

Knowledge Economy

In the now fully functioning knowledge economy, the ability to manage knowledge has become ever more critical. The creation and diffusion of knowledge are increasingly important factors in economic competitiveness. Knowledge is not only embodied in goods and services, particularly in high technology industries, which provide the highest rates of growth in productivity and employment in manufacturing industry, but also in knowledge as a commodity itself, manifested in forms such as intellectual property rights or in the tacit knowledge of highly mobile key employees.

An array of new innovation-supporting infrastructure is emerging. Major companies are recognising their limited ability to promote innovation within the traditional organisational space. Major experiments are being conducted through intrapreneurial ventures, incubators, accelerators and innovation laboratories. Smaller companies need tailor-made access to innovation spaces fitted to their own needs.

What We Offer

  • Design and implementation of innovation spaces
  • Design and delivery of entrepreneurial innovation development exercises

Research-Industry Engagement

In an era of ‘open innovation’ effective, deep and strategic linkages between knowledge producers and consumers is an essential basis of economic competitiveness. Australia performs poorly against OECD measures of research-industry, and company-company, collaboration. It also has a very poorly developed infrastructure of intermediaries, whose business it is to foster these collaborations.

New structures and governance arrangements are emerging, particularly in the form of strategic public-private partnerships (PPPs) for innovation, which “can help make research and innovation policy more responsive to the changing nature of innovation and to social and global challenges. For business, partnering with public research can help solve problems, develop new markets or generate value through co-operation and co-production. Traditionally used for physical infrastructure, PPPs are increasingly popular in R&D and innovation policy because they are better adapted to some innovation goals or challenges than policy instruments such as subsidies or tax credits…

ACIIC, particularly through our extensive work in Europe, has developed considerable experience in the design and management of public-private partnerships for innovation.

What We Offer

  • Design and delivery of exchange experiences between researchers and companies
  • Search processes to identify relevant research/knowledge capacities
  • A translation process to reinterpret knowledge capacities to industry problems.

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