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Around the World in TBED
As U.S. politicians turn their eyes towards this year's election season, governments around the world continue to focus their efforts on increasing national global competitiveness. Over the past couple months, Australia, China and New Zealand have announced government initiatives to spur innovation, revitalize domestic manufacturing and support R&D.
Australia
The Australian government announced a new report, Smarter Manufacturing for a Smarter Australia, proposing a public-private partnership to establish a shared vision for the future of the country's manufacturing sector. Compiled by non-government members of the Prime Minister's Taskforce on Manufacturing, it identities a five point agenda to build the global competitiveness of its manufacturing base including:
- Specific measures to boost the public and private investment to manufacturers, technology companies and researchers;
- A targeted stimulus focused on initiatives in transport, broadband, energy, regulation and taxation;
- Several steps to address the specific issued faces by small- and medium-sized business;
- A new Smart Australia Network to link business, research organizations and other entities to around the country; and,
- The development of smarter workplaces by promoting innovation and cultivating managerial and workforce skills.
China
According to an article from industryweek.com, China's cabinet called for stepped-up innovation and an increased role for private investment in state-dominated industries including railways, energy, telecommunications, finance, health and education. Industry is expected to adopt new technologies and materials as well as upgrade facilities. Chinese officials point towards downward pressures on the country's economy due to sagging national economic growth and global financial problems as the driving force of the reforms. Read the article...
New Zealand
New Zealand's Science and Innovation Minister Steven Joyce announced that the country plans to commit approximately $115 million a year to co-fund R&D by New Zealand-based companies. This significant commitment is intended to almost double total R&D funding from 0.54 percent to over 1.0 percent of GDP and increase government R&D funding from 0.6 percent to 0.8 percent of GDP. Read the press release...
An additional $92 million will be committed to research that will help grow the country's high-tech manufacturing sector. Over the next six years, the government will invest in 31 projects at universities, Crown Research Institutes and private research organizations. These research investments are intended to complement the approximately funding for R&D by domestic companies. Read the press release...
The country also intends to establish a network of small advanced economies focused on kick-starting international collaboration among small countries with highly developed innovation economies. Scheduled for November, representatives from four countries already are scheduled to attend including Singapore, Denmark, Finland and Israel while drawing interest from other countries. Science and Innovation Minister Joyce believes these similar countries can learn from each other and work together to increase their competitiveness. Read the press release...