Policy & Advocacy
State and Federal finances

Industry, innovation and commercialisation

Innovation is an essential driver of economic growth that benefits consumers, businesses, and the economy.

Industry, innovation and commercialisation

Victoria’s research and development capabilities are well regarded around the world, yet we have so much more opportunity to embrace new ways of working for a more sustainable and successful future. This can be achieved through new partnerships, research, and the development of new products, services, and how we conduct business.

Our focus
  • Increase the adoption rate of innovative technologies by Victorian businesses.
  • Increase the number and value of research-business collaborations.
  • Increase the translation and commercialisation of research.
  • Increase public and private sector investment in research infrastructure and promote greater diversity in the research and innovation workforce.
  • Better target Research and Development tax incentives and increase support for direct grant programs that support industry innovation.
  • Ensure the regulatory and policy environment supports innovation, including by using government procurement as a strategic lever.
  • Increase Victorian business survival rates, growth rates, global competitiveness, and position in global value chains.

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