On 13 December 2019, the AICD provided a submission to the NSW Government in response to its consultation ‘Accelerating Research and Development (R&D) in NSW’.
Our submission draws on key findings of our recent research with the University of Sydney, ‘Driving Innovation – the Boardroom Gap’ regarding approaches of the Australian director community to innovation, as well as specific feedback from members of the AICD Governance of Innovation and Technology Panel to make the following key points:
In an increasingly, complex regulated environment, Australian directors continue to struggle to prioritise innovation with more needing to be done to lift their digital and technology literacy;
- The primary way in which the NSW Government can promote R&D and innovation is by being a key anchor customer for business;
- The Government should play an important role in connecting the various parts of the ecosystem including industry and academia; and
- The AICD would like to explore ways of collaborating with the Government to promote R&D and innovation in the state.
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