The Business Council of Australia (BCA) has expressed strong support for the draft National Health and Medical Research Strategy 2026-2036, a comprehensive plan aimed at bolstering the nation’s research capabilities. Representing over 120 of Australia’s leading businesses, the BCA emphasizes the importance of this strategy in maintaining Australia’s competitive edge in health and medical research.
The announcement comes as the Australian Government, through the Department of Health, Disability and Ageing, seeks to align this strategy with other key initiatives, such as the Strategic Examination of R&D (SERD). The BCA’s endorsement underscores the critical role of research in driving Australia’s long-term productivity and prosperity.
Australia’s Legacy in Health and Medical Research
Australia has long been recognized as a leader in health and medical research, with groundbreaking discoveries like spray-on skin, the cochlear implant, and the cervical cancer vaccine. These innovations highlight the country’s robust research infrastructure, including world-class universities and a highly trained workforce.
However, the challenge remains in translating these research capabilities into commercial outcomes. As global advancements in fields such as genomics accelerate, Australia must keep pace with a strategic plan to attract top-tier researchers and significant investment.
Strategic Recommendations from the BCA
The BCA has consistently advocated for globally competitive settings to enhance Australia’s R&D system. Their recent submission to the National Strategy outlines several key principles to ensure the country’s continued leadership in this domain:
- Alignment and Consolidation: Streamlining efforts across sectors to maximize impact.
- Clear Accountability: Establishing responsibility at each stage of research and development.
- Collaboration: Fostering partnerships between private, public, and not-for-profit sectors.
- Data and Digital Infrastructure: Investing in technology to support innovation.
- Flexible Funding: Ensuring financial certainty and adaptability.
Moreover, the BCA emphasizes the need for a clear pathway from research to commercialization, improved market access, and a focus on consumer-centered care.
Looking Forward: Ensuring Global Competitiveness
To remain competitive on the international stage, the BCA suggests several strategic actions:
- Increasing R&D expenditure to 3% of GDP.
- Implementing recommendations from the BCA’s Unlocking Australia’s R&D Potential report.
- Expediting the National Strategy to provide certainty for researchers.
- Reforming the R&D Tax Incentive to attract more investment.
- Introducing a collaboration premium to encourage partnerships.
The move represents a significant opportunity to refine the settings that will enable Australia to continue its leadership in research and development. It requires a concerted effort from governments, industry, and academia to drive change.
Implications for the Future
A nationally consistent approach to R&D is expected to enhance business investment and commercialization, ultimately supporting a healthier and more productive nation. The BCA’s submission highlights the necessity of reform across people, processes, technology, and culture to achieve these goals.
According to the BCA, “This is a significant opportunity to ensure the settings are effective to enable Australia to continue to be a world leader in R&D.” The strategy aims to build on the strengths of Australia’s existing R&D industry while addressing current challenges.
As the country looks towards the future, the National Health and Medical Research Strategy 2026-2036 could play a pivotal role in shaping a resilient and innovative research landscape, ensuring that Australia remains at the forefront of global advancements.
