Rosemary Huxtable’s proposals for a national health and medical research strategy are out for review and the Business Council of Australia has seized the opportunity to promote its position on that other pot of money up for discussion – for research and development.
“Our efforts to be a world leader in health and medical research is hampered by a lack of connection between research, translation, and commercialisation, as well as a complex system and limited business support,” BCA laments.
But there are limits. The Council is keen for the Medical Research Future Fund’s role to be distinguished from the Medical Research Endowment Account, which funds the NHMRC.
“The greater emphasis by the MRFF on the needs of patients and moving further towards translation is critical. That differentiation should not be lost, and in fact, should be enhanced if they are both brought together under a single executive agency.”
To have a “positive impact,” BCA also proposes Ms Huxtable’s plan should “align” with Robyn Denholm and colleagues’ Strategic Examination of Research and Development, which is now in development for Industry Minister Tim Ayres. “While Australia’s health and medical research capabilities are strong, translation into commercial outcomes remains a challenge.”
So BCA includes R&D recommendations far broader than medical research, including abolishing the threshold for the tax incentive or at least raising it to an indexed $250m. It also repeats its previous peace offer to the university research community, a 20% premium “to incentivise partnerships.”
“A nationally consistent approach to R&D will improve business investment, commercialisation, and the systems that support innovation, while ensuring Australians remain healthy and productive. This National Strategy must build on the strengths of Australia’s existing R&D industry,” is the message.