The Strategic Examination of Research and Development (SERD) panel have released two new documents as it progresses to the next stage of review. Following nearly 500 submissions and over 600 stakeholder consultations, the panel has identified several key challenges, including fragmented initiatives, excessive regulations, and a risk-averse culture. 

Across the various touch points, the prevailing demand is for an Australian R&D system that is “cohesive, dynamic and impactful.” Stakeholders call for a cohesive national strategy that strengthens basic research, supports high-risk entrepreneurship, and leverages private sector involvement while boosting talent and skills. There also is an emphasis on the need to measure outcomes, not just inputs, and to create value from research through commercialisation and innovation at scale.  

Notably, there are several recommendations related to regional innovation that were either proposed by One Basin CRC, or by Cooperative Research Australia (CRA) in their submission that we proudly supported. These include a regional innovation tax incentive, regional collaboration hubs, investment in regional R&D infrastructure, and a National Regional Innovation Fund. 

In the coming weeks, the panel will release an issues paper to drive further discussion on reforms that can unlock Australia’s full research, development and innovation potential. 

See the full SERD analysis and insights paper based on the consultations and submissions here.