Powering Ideas: An Innovation Agenda for the 21st Century

Senator Carr, Minister for Innovation, Industry, Science and Research has released the long-awaited response to the Cutler Report, Venturous Australia.

The report, entitled Powering Ideas, An Innovation Agenda for the 21st Century, provides some illumination as to the government's thinking in this area. For instance:

Innovation is the key to making Australia more productive and more competitive. It is the key to answering the challenge of climate change, the challenge of national security, the age-old challenges of disease and want. It is the key to creating a future that is better than the past.

Investing in innovation is also one of the most effective ways we can cushion Australia against the effects of the global downturn and accelerate recovery. It will simultaneously keep people in work today and generate jobs for the future.

(from the Executive Summary)

I'll post analysis of the White Paper over the coming weeks. We've already started analysing the planned R&D tax credit over at MJA, have a look at the following articles:

• Budget 2009: Innvotion Policy Announced
• Budget 2009: Interview with Kris Gale

You can download the White Paper from the Innovation Review website (PDF).