Experts at the National Innovation Policy Forum have argued that government procurement policies are an untapped innovation catalyst in Australia. Sally-Ann Williams, CEO of Cicada Innovations, highlighted the potential of the Business Research and Innovation Initiative (BRII), which funds SMEs to develop tech solutions for government challenges.
However, the BRII is underutilized compared to the US Small Business Innovation Research (SBIR) program, which mandates significant agency investment. CSIRO’s Elanor Huntington noted how procurement relationships, like with Canberra Data Centres, foster local growth. David Forman from TechnologyOne criticized procurement rules for undervaluing Australian intellectual property, while Annette Schmiede of the Digital Health Cooperative Research Centre pointed out that only 11% of government contracts went to local SMEs last year.
The consensus is that modest policy adjustments could transform procurement into a growth driver for Australian innovation.
Explore the full insights from this panel in the Innovation Aus article to understand how procurement policies can drive Australian innovation.
