NSW government accelerates R&D investment

The NSW Premier has asked her Parliamentary Secretary Gabrielle Upton to help accelerate research and development (R&D) investment to make NSW Australia’s R&D leader. 

Premier Gladys Berejiklian said: “R&D is a major source of innovation and an important driver of economic growth. R&D activities have the potential to create new jobs and improve lives for the whole community. They can lead to improved health and social wellbeing and better planning for our future. 

“R&D in NSW already has strengths in a range of fields, supported by NSW's world-class universities and industry, for instance, in advanced manufacturing and in agri-business. Now is the time to step up our efforts and to lead the Nation.” 

Ms Upton has appointed an Advisory Council of eminent leaders in innovation, business, government and the tertiary education sector to provide insights and advice to the NSW Government. 

The Advisory Council will be chaired by David Gonski AC and includes Maxine Brenner, Jillian Broadbent AC, Phil Marcus Clark AO, Professor Hugh Durrant-Whyte, Professor Barney Glover AO, Professor Brigid Heywood, Catherine Livingstone AO, Professor Mary O’Kane AC, Daniel Petre AO, Professor Michelle Simmons AO, and Jennifer Westacott AO. 

The Advisory Council met for the first time today and discussed a range of areas where R&D has the potential to make a major contribution to solving NSW’s big challenges. Ms Upton said: “I welcome the Advisory Council members and the talent, breadth of experience and knowledge they will each bring to this important initiative.” 

Mr Gonski, in his capacity as the Chair of the Council, said: “the first meeting was highly productive, with insightful and engaging discussions and contributions from the Council members.” 

According to the NSW Innovation and Productivity Council’s 2019 Scorecard, around $11 billion was invested in R&D in NSW in 2018, equivalent to 1.9 per cent of the gross state product. 

Ms Upton said the Advisory Council will next year deliver a Plan of Action for making NSW the R&D leader within Australia. 

“I look forward to hearing from all sectors and the community on how R&D can help solve our big challenges that will make a difference for everyone in NSW,” Ms Upton said. 

Public submissions open today through this link: www.dpc.nsw.gov.au/accelerating-r&d 

Source: NSW Government.