Innovation

Federal Labor is building a high-tech, high-wage economy for the future. Research and innovation will drive that economy. They are critical to our national prosperity and wellbeing.

The Innovation Portfolio is dedicated to raising living standards, creating jobs, and improving lives by increasing Australia’s capacity to generate and apply new ideas. It supports business innovation to modernise existing industries and create new ones. It supports research at universities and public sector research agencies to expand knowledge, increase understanding and accelerate invention and discovery. It links researchers and industry to translate creative ideas into practical processes, products and services we can apply at home and sell to the world.

The Federal Labor Government has increased Commonwealth spending on research and innovation by 34 per cent compared to the previous Coalition Government, established Enterprise Connect and Commercialisation Australia, introduced the $6 billion New Car Plan for a Greener Future, and dramatically increased Australia’s research capacity by investing in facilities, equipment and people/