Federal Minister for Science and Research, Senator Chris Evans, has urged greater investment in Australian science and research, saying that it is key to driving higher productivity and forging a strong and sustainable economy.


In a keynote address to the Science Meets Superannuation summit in Melbourne, Senator Evans said it was important to create partnerships between the science and research industry, universities and the private sector.

“We have enormous potential sitting right here on our doorstep,” Senator Evans said.


“We need to encourage investment partnerships between business and the science and research communities.

“We need to make sure the innovative research and ideas coming from Australia are developed and capitalised here.

“Boosting investment in science and research will ensure opportunities created right here at home don’t slip from our grasp.

Senator Evans said the Government was committed to ensuring world class Australian science and research by encouraging greater investment across the board.

“Getting more investors on board in the early stages of the innovation cycle will help strengthen the pre-commercialisation phases of research and development,” Senator Evans said.

“The superannuation sector provides a great model for further investment opportunities, given its strong track record of investing in privately-managed venture capital funds and commercialisation partnerships with universities.

“An investment of half a per cent of Superannuation Funds into science and research would amount to a staggering $6.5 billion. That is a huge investment into furthering Australia’s competitiveness in the knowledge-based economy of the 21st century.