Welcome to the Australian IP Report 2024
Australia has a strong advantage in emerging technologies including quantum, artificial intelligence, and clean energy generation.
By harnessing these strengths, we can supercharge the growth of new industries and gain a competitive edge.
These frontier technologies present some of the most powerful opportunities we have to grow the economy and raise the social wellbeing of Australians.
However, to get the most out of the country’s capabilities in science and technology it is vital for government, industry, and the research sector to work together.
Especially important is developing young talent in STEM fields and helping them to use their know-how to build thriving new businesses.
According to this report, Australian startups that employ PhD graduates are nine times more likely than the average new business to receive a patent.
Australia’s capacity to generate valuable IP depends on organisations exchanging their bright ideas and working collaboratively in pursuit of excellence.
IP rights help facilitate technology transfer and can provide small innovators time to develop commercialisation capability.
An effective IP system ensures that Australia’s innovators can retain and develop their IP at home, while benefiting from access to new technology at the global frontier.
Innovation based on collaboration, cooperation and the exchange of know-how is vital to Australia’s economic success. By supporting Australians on their innovation pathways, we can together tackle some of the world’s most pressing and persistent challenges.
Hon Ed Husic MP
Minister for Industry and Science
