Episode 12 – How to Measure Australia’s Innovation Ecosystem: Understanding the Innovation Metrics Review

About the Episode

Elijah Eilert is talking to Joseph Brookes about the Innovation Metrics Review, a report that assesses the way Australia is currently measuring innovation, and then makes recommendations on how it can be improved. The Australian Government commissioned the review discussed in this episode due to a recommendation from Innovation and Science Australia in 2017. The review was released by the new government on September 30th 2022.

Topics and Insights 

  • (01:00) Introducing Joseph Brookes, senior editor at InnovationAus.com
  • (04:30) Joseph’s podcasting experience on the InnovaionAus.com podcast – Commercial Disco
  • (05:00) Introducing the report and who it is written for.
  • (07:30) Talking about the fact that an official government response was never given and suggesting that Ed Husic, The Industry and Science Minister, is probably the right person to respond.
  • (10:00) The innovation metrics review, has its roots in an OECD report, which concluded that Australia was not doing well with respect to universities collaborating with industry and other innovation measures. This set off negative commentary with respect to Australia’s innovation ecosystem. The Review was then commissioned by the Australian Government in response to a recommendation in the Innovation and Science Australia 2030 plan that called for a review of existing innovation metrics for accuracy and adequacy.
  • (09:30) Assumptions on why it took so long for the review to be released.
  • (12:00) Covering the report’s main recommendations
    • fill measurement gaps;
    • produce an annual report;
    • create a new entity to drive the reporting;
    • innovation metrics scorecard.
  • (15:00) Explanation of the innovation metrics scorecard comprised of 19 measures, benchmarked against other OECD nations.
(2019) Improving Innovation Indicators: Better Data to Track Innovation in Australia. rep. Canberra: Australian Government

(2019) Improving Innovation Indicators: Better Data to Track Innovation in Australia. rep. Canberra: Australian Government. 

  • 19:00) How the recommended metrics in the review may not be perfect but enables us to improve the current way we are measuring innovation and set up a system for continuous improvement.
  • (20:30) Finding people to interview about the review.
  • (24:30) Who may have read the report.
  • (26:30) States implementing recommendations.
  • (29:00) The Australian Bureau of Statistics (ABS) has reacted to the report by changing its business survey – go ABS

Connect with Joseph

About the Guest

 Joseph Brookes is a senior reporter at InnovationAus.com. He covers technology, policy and business news with a focus on Australia’s innovation ecosystem.

Show Transcript

Sign up for the latest on Innovation Accounting, Lean Startup, Workshops and Innovation Ecosystem Design.

RELATED INNOVATION WORKSHOPS & TRAINING

Innovation Accounting Course

Innovation Accounting Course

Learn how to create a simple financial (or impact) model that works for innovation.

Leave A Comment