Federal investment in Australian R&D is on fire (in the bad way)
When it comes to research and innovation, Australia is often seen as punching above its weight. We pride ourselves on being the "little Aussie battler," known for doing more with less. But have you ever wondered what could be achieved if our underfunded sector was fully supported?
As of 25/08/23, our R&D expenditure was less than 1.7% of GDP, which is less than half of the U.S. expenditure in terms of GDP percentage. This significant shortfall in investment is severely hampering our potential for innovation.
Consider the funding for the National Health and Medical Research Council. Since Elizabeth Blackburn's Nobel Prize win in 2009, federal funding for Australia’s most prestigious medical funding program hasn’t kept pace with inflation – a mere 26% increase for the ten years from 2012-22 compared to an inflation rate of 37% over the same period. The challenge of securing medical research grants is growing, and the value of successful grants is diminishing.
Australia is home to some of the world's most exceptional research, medical and otherwise. Yet, we can’t afford to relegate R&D investment to an afterthought or a 'nice to have.' The lack of real investment will have far-reaching economic and societal impacts.
So, what’s the next step? Begin by reviewing the submission to the treasury by the Australian Academy of Technological Sciences & Engineering (ATSE), which articulates the funding needs comprehensively (link in comments below). Then, take action by contacting:
Your local MP
The CEO of the National Health and Medical Research Council (NHMRC), Prof Steve Wesselingh,
The CEO of the Australian Research Council, Judi Zielke,
The Deputy Vice-Chancellor of Research at your university (if applicable),
And firmly advocate for elevating Australia's R&D spending to AT LEAST 3% of GDP. Feel free to add or tag other influential individuals or advocacy groups that should be involved in this conversation.
