Australian innovation ecosystem: A critical review of the national innovation support mechanisms

Marques, Jamile Sabatini, Yigitcanlar, Tan, & da Costa, Eduardo Moreira (2015) Australian innovation ecosystem: A critical review of the national innovation support mechanisms. Asia Pacific Journal of Innovation and Entrepreneurship, 9(2), pp. 3-28.

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Abstract

Innovation is understood as the combination of existing ideas or the generation of new ideas into new processes, products and services, and widely viewed as the main driver of growth in contemporary economies. In the age of the knowledge economy, successful economic development is intimately linked to a country’s capacity to generate, acquire, absorb, disseminate, and apply innovation towards advanced technology products and services. This development approach is labelled as knowledge-based economic development and highly associated with a capacity embodied in a country’s national innovation ecosystem. The research reported in this paper aims to critically review the Australian innovation ecosystem in order to provide a better understanding on the potential impacts of policy and support mechanisms on the innovation and knowledge generation capacity. The investigation places Australia’s innovation system and national-level innovation support mechanisms under the microscope. The methodology of the study is twofold. Firstly, it undertakes a critical review of the literature and government policy documents to better understand the innovation policy and support mechanisms in the country. It, then, conducts a survey to capture Australian innovation companies’ perceptions on the role and effectiveness of the existing innovation incentive programs. The paper concludes with a discussion on the key insights and findings and potential policy and support directions of the country to achieve a flourishing knowledge economy.

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ID Code: 91574
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: Innovation, innovation ecosystems, national innovation systems, incentive programs, knowledge economy, knowledge-based economic development, Australia
ISSN: 2071-1395
Subjects: Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) > Urban and Regional Economics (140218)
Divisions: Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2015 AABI
Deposited On: 04 Jan 2016 02:48
Last Modified: 10 Apr 2017 03:41

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