The chair of the federal government’s first comprehensive review of the R&D system in almost 20 years says Australia’s spending on R&D needs to “at least double” by the end of the decade.
Robyn Denholm, who chairs the world’s biggest electric vehicle maker Tesla, made the comments just weeks before being appointed to lead the generational R&D review, which will run for the next year and deliver intervention options to the government.
It followed the arrival of new Tech Council of Australia research showing that Australia’s R&D investment as a percentage of GDP will drop to 1.3 per cent by 2035 if the trend that has been underway since the GFC continues.
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