The Sydney Business Chamber says the Premier’s announcement of the Accelerating R&D in NSW Action Plan couldn’t come soon enough as we emerge from Covid, with Sydney in pole position to stake its place as the nation’s - and the region’s - R&D capital.
“Now is the time for swift, targeted action with Sydney’s R&D sector ripe for development as it is home to some of the world’s leading universities and has the new Tech Central precinct well underway,” said Katherine O’Regan, Executive Director of the Sydney Business Chamber.
“Tech Central alone is predicted to create over 25,000 innovation jobs, so supporting Research and Development is a golden opportunity to turbocharge other precincts like the Camperdown health precinct and the development of Pyrmont as a hub of knowledge jobs of the future.”
“These precincts will provide local jobs as well as preparing to attract the brightest international minds for research and production with Pyrmont a prime candidate for light advanced manufacturing in the future.”
“Our universities have been struggling due to Covid to fund existing, let alone future research, so one of the Action Plan’s stated goals of targeting them for strategic support and closer collaboration, as well as assisting them leverage Federal funding will be welcomed.”
“R&D often suffers from not succeeding in commercialising new ideas and products, so grants from the State government’s ‘Small Business Innovation Research’ program will assist SME’s to monetise research and development, both in the private and public realms.”