Australia’s industry development and economic well-being is being held back by a lack of strategy and bold, long-term funding, according to advocacy group Science and Technology Australia’s new president, Professor Sharath Sriram.
Australia must raise its R&D investment levels to 3 per cent of GDP as soon as possible or risks a continued economic slide.
“Unless we become a smarter country, we’re doomed to become a poorer one,” Professor Sriram will tell the National Press Club on Wednesday.
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