R&D > Technological Innovation > Australia

Resource exports have been a reliable staple of the Australian economy for some time, but Australia has been slipping elsewhere, and the gap is biting.

Key Observations

• Countries that are finding it easier to build advantages in the 21st Century are those that have built increasing levels of economic complexity and technological sophistication, investing efforts in supporting technology R&D.

• Australia has not followed that path, falling back on resource exports, and consistently falling behind on R&D support. In a world where access to supply chains and emergent technology is increasingly competitive, Australia risks far more than just falling behind.

• While there is a clear lack of leadership from government, a large amount of the heavy lifting to face such headwinds will also require a shift of approach from industry investment itself.