The university sector’s peak body will on Wednesday push for new tax breaks for companies that partner with universities on research and development, even if it means reducing the support for non-collaborating businesses.
The change is designed to encourage more IP generating research and comes amid frustration about businesses underinvesting in R&D and importing ideas without attempting genuine breakthrough work locally.
The latest data shows Australian business expenditure on R&D is increasing — up to more than $24 billion in 2024 — but still remains far below comparable nations in terms of a share of GDP.
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Doing more genuine R&D in Australia is a good thing, but thinking that throwing even more money at the university sector will fix things is flawed thinking. At best, it is just another way to drag more taxpayers money into university coffers.
If the uni sector actually delivered commercial outcomes from R&D investment, money would flow there naturally. But they don’t deliver and setting up artificial collaborations between innovative companies and unis is simply a waste of scarce innovation funding.