In 2019–20, the Australian Government invested $10.1 billion in innovation, science and research (ISR).
The Driving effective government investment in innovation, science and research report reviews the effectiveness of the government’s ISR investments. It looks at the overall mix of investments to identify:
- alignment of policies across the system.
It includes 3 recommended actions which can guide the most effective use of government investments. These recommended actions can ensure high impact ISR outcomes both now and in the future.
The recommended actions include the development of:
- whole-of-government ISR priorities that are used to drive investment decisions
- a 10-year investment plan that is aligned with ISR priorities, coordinated at the whole-of-government level and has effective evaluation processes
- an investment plan that is strategically balanced across the government’s portfolio of investments to ensure returns over the short, medium and long term.