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.
“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.
“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.