NSW Top location for Innovation

Saturday 14 May 2022
NSW has Australia’s strongest startup ecosystem, world-leading universities and an unparalleled opportunity to attract major new investment, according to the latest NSW Innovation and Productivity Scorecard.
NSW Top location for Innovation

Minister for Science, Innovation and Technology Alister Henskens said the Innovation and Productivity Council’s Scorecard measures NSW’s performance in four thematic areas: research and collaboration, skills and enterprise, growth and productivity, and the net zero economy.

“This is an excellent result for NSW and proves that our innovation ecosystem is world class,” Mr Henskens said.

“We are unashamedly benchmarking ourselves against the heavy hitters of the global economy and it’s clear that NSW’s human capital stands up against the best. Our Government is focusing on innovation because we know it boosts productivity, economic growth and jobs.

“NSW has the largest share of startups and spinouts from Australian universities and research institutions and our growing venture capital investor presence is indicative of a globally competitive economy.

“This report will frame our future actions and help finalise our 20-Year R&D Roadmap – NSW’s blueprint for turning research into world-leading industries and jobs.”

The data shows NSW has moved to the top spot in the world for the number of global top 200 universities on a population adjusted basis. NSW also outperforms other international economies on the percentage of researchers in the top 10 of their field.

NSW Vice-Chancellors’ Committee convener Professor Barney Glover AO and distinguished former public servant Dr Richard Sheldrake AM said the Scorecard will help government, industry and educational institutions to improve and excel.

“The landmark innovation partnership between the NSW Government and NSW’s 11 universities offers enormous opportunity for future R&D collaboration, with a pipeline of over 100 strategic opportunities across the state,” Professor Glover said.

“The growing attraction of the ecosystem to investors is clear, with more than 300 additional venture capital firms choosing to operate in NSW since 2019,” Dr Sheldrake said.

Excerpt from Study NSW News story dated 27th April 2022

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