Innovative economies are made up of businesses which are more productive, resilient, adaptable to change and better able to support higher living standards for their employees. A business must consider many factors in determining what types of investments to make to ensure growth and to boost productivity.
Investment in innovation, whether it be R&D or non-R&D innovation, correlates with improved outcomes for businesses. The challenger for both government and business is how they work together to demonstrate the leadership and 'growth through innovation' mindset to create the environment in which to stimulate business investment in innovation.
Implementing the four strategic recommendations described in this report will stimulate increased investment in innovation that will boost business productivity, increase business revenue and deliver more jobs.
ISA would like to thank the hundreds of businesses that contributed to this report through workshops and the co-design process. We acknowledge the support of our consultants and supporting staff. Specifically, we would like to acknowledge the support from AlphaBeta, led by Dr Jim Minifie; the Nous Group, led by Dr Jenny Gordon; and OISA, led by Dr Charles Day, Dr Kate Cameron, Ms Dharmini Robertson and Mr Joshua Leach.
ISA notes that, although we have benefited from the input of many as outlined above, the final responsibility of the content of this report rests with the ISA Board.