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In a letter to the Prime Minister sent in October 2019, the Council for Science and Technology (CST) explores measures to increase the impact of public sector research and development (R&D) budget and create the environment for encouraging private sector investment.
CST proposes 8 areas for action including:
greater emphasis on applied research, development and implementation
a review of the distribution of funding
clearer communication of long term challenges that government seeks to address
development of data analysis tools to identify emerging opportunities
improving funding mechanisms to maximise business involvement
increasing the availability of scale-up funding
strengthening skills and capability in academia for translating research into economic and social outcomes
reviewing how public sector research laboratories can build stronger partnerships with business and academia