A Proposal for Industry-led Innovation Consortia
Melbourne Institute Policy Brief No. 01/14
Australia has strengths in a number of industries and is well served by a number of government-led programs to encourage knowledge diffusion, knowledge absorption and innovation linkages. It would benefit however from more industry-led consortia — similar to the rural R&D corporation program — in the non-agricultural and non-mining industries. These R&D corporations embody the desirable features of stability, additionality, trust and connectedness. Furthermore, they have explicit channels of translation and industry buy-in that make them suitable architecture for industry knowledge creation and diffusion.