TWENTY-YEAR NSW R&D ROADMAP TAKES SHAPE

Industry and research sector leaders will come together today for the inaugural NSW Competitive Advantage Summit, which will help fine-tune the state’s research and development (R&D) strategy for the next two decades.

Minister for Science, Innovation and Technology Alister Henskens said the Summit is a critically important part of finalising the 20-Year NSW R&D Roadmap – the NSW Government’s blueprint for turning our R&D capabilities into world-leading industries.

“R&D is the driver of new businesses, high-value jobs and international investment in NSW, and there is no doubt that it will also play a crucial role in our recovery from the health and economic impacts of the pandemic,” Mr Henskens said.

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“The NSW Government invests more than $300 million in R&D and related activities each year and we want to ensure this investment is targeted to turbocharge the best outcomes for our people, the environment and our economy.”

The 20-Year NSW R&D Roadmap was a recommendation of the NSW Government’s Accelerating R&D in NSW Action Plan to which aims to build the state’s capacity to be receptive and responsible to new R&D initiatives.

The Summit will be co-chaired by the NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte and the NSW Chief Economist, Stephen Walters.

Professor Durrant-Whyte said the 20-Year NSW R&D Roadmap is the product of deep analysis of NSW’s competitive advantages.

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“The Roadmap has been put together in close consultation with research and industry leaders possessing real experience in working with innovative technologies, startups land investment attraction,” Professor Durrant-Whyte said.

“It takes into account our R&D and industry strengths and weaknesses, our skilled workforce, students and education pathways, and our regulatory frameworks, innovation and natural assets.”

The NSW R&D Roadmap will be released by mid-2022.