The NSW Government is committed to working with the innovation sector, working with leading experts from universities and business to develop a blueprint that will shape support for NSW's innovation sector.
Analysis by the NSW Innovation and Productivity Council shows that university-industry collaboration and commercialisation outcomes have stagnated for several years, coinciding with a decline in R&D intensity.
Given the imperative to restore the State's fiscal health and revitalise essential services, budget allocations must prioritise initiatives that demonstrably benefit the people of NSW.
The Innovation Blueprint, developed in consultation with industry leaders and experts, aims to position NSW at the forefront of the global competition for new investment, ideas, industries and talent.
To facilitate this, the Minister for Innovation, Science and Technology will lead roundtable discussions on a range of issues, including venture capital, non-monetary government support, optimal strategies to support startup growth, industry adoption of innovation and attracting skills and talent.
These collaborative discussions will play a key role in shaping the Innovation Blueprint, ensuring it is aligned with the needs and aspirations of the NSW innovation sector.
The resulting Blueprint will strategically drive innovation in emerging sectors and critical enabling technologies such as quantum computing, artificial intelligence, data, cyber, sensors and robotics. These advances will cut across key sectors such as energy, advanced manufacturing, healthcare and agri-food, and contribute significantly to our future economic growth.