AusBiotech says new body will replace current function of Innovation Australia in 2016; rounds up 2015

AusBiotech, the representative body for the Australian biotech industry, said as part of the National Innovation and Science Agenda (NISA), a new independent board, Innovation and Science Australia (ISA), will replace the current function of Innovation Australia in 2016 and will be responsible for strategic coordination and advising government on all science, research and innovation matters.

The industry body, in a warp up statement for 2015 said, ISA will be chaired by Bill Ferris, with Australia’s next chief scientist, Dr Alan Finkel, as deputy chairman. One of the ISA’s first responsibilities will be to review the R&D Tax Incentive, to sharpen its focus on encouraging additional R&D spend.

AusBiotech said it will seek to participate in the review, as the industry organization has with the previous reviews if the R&D Tax Incentive. AusBiotech noted that there is no mention as yet of abandoning the 1.5% cut to the R&D Tax Incentive, which remains on the notice paper.