An innovative economy
Australia is a world-class innovation destination, with solid foundations of modern ICT infrastructure, high levels of investment, generous R&D tax incentives for businesses and strong intellectual property protection.
As an innovative economy, Australia supports:
- high-quality research outcomes
- rapid growth in business expenditure on R&D
- expenditure on R&D similar to that of other leading innovative countries, such as the USA, Japan and France
- growth in gross expenditure on R&D at twice the OECD average
- some of the world’s best academic and research institutions.
Australia is a leader in the development of new technologies like the bionic eye. Billions of people around the world rely on Australian discoveries, such as Google Maps, high-speed WiFi, spray-on skin for burns victims, cervical cancer vaccine, ultrasound, cochlear implants and civilian use of penicillin.
Australian innovation video