The Australian government has published a “National Innovation & Science Agenda,” to which AUD 1.1 billion ($80.3 million) will be allocated over four years. The Agenda consists of four pillars: Culture and Capital, Collaboration, Talent and Skills, and Government as an Exemplar. The pillar of Culture and Capital addresses funding shortfalls for technology development, and includes new tax breaks and funding. New spending will go to create the AUD 200 million CSIRO Innovation Fund to invest in spin offs and start-ups, and the Biomedical Translation Fund, along with the private sector, will invest AUD 250 million in commercializing medical research. The Collaboration pillar focuses on increasing researchers and industry collaborations, including promotion of university and business partnerships. Funding includes AUD 1.5 billion over 10 years for the National Collaborative Research Infrastructure Strategy. Under the Talent and Skills pillar, the country will strive to develop and attract new talent by improving student training and implementing new visa arrangements. The Government as An Exemplar pillar emphasizes digital technologies and information sharing. This includes the formation of Innovation and Science Australia, a strategic board to coordinate science, research and innovation policy, which will receive AUD 8 million from 2015 to 2019.

Source: Australian government