Latest Australian innovation plan is praised but it would require overseas talent

December 15, 2015
Recently announced new policies by the government of Australia is about to make the nation more internationally competitive and boost its innovation potential. As said by the latest analysis report.

According to KPMG Australia, everyone knows that Australia is very keen to lure the entrepreneurs and innovative businesses with the latest visas announced for making it easy, but a lot depends on the attitude of the government in not just motivating the most recent innovation from across the globe, but also enhancing the conditions for existing business that is the key.

Latest Australian innovation plan is praised but it would require overseas talent

It also said that the Australian government’s innovation statement is the encouraging step forward on the passage of achieving innovation prospective of Australia and becoming internationally competitive, but is also said that the talent from abroad would be required to accomplish the vision. KPMG has also warned the Australian government that additional visa change is required.

According to Michael Wall, Immigration National Leader, KPMG, a sharp slowdown in the temporary 457 visa numbers over the past two years has had an unfavorable and clear effect on the economy of Australia.

Visa program could deliver employees to precisely where they are required in economy by businesses who are creating the wealth of our nation.  Drawing the talent from abroad would boost our connectedness. Special priority needs to be provided for bringing the STEM-skilled professionals and researchers and the individuals with clear entrepreneurial record. Head of KPMG, James Mabbott also agreed that the foreign expertise must be motivated.

The report also highlights that there are business and tax incentives which would enhance to improvement.  And the maintenance of a tax incentive would also assist improve innovation. There would also be the formation of independent body known as Innovation and Science Australia for providing tactical advice to the government of Australia for improved planning and usage of country’s investment in development and research.

However, Helen Sant, Research and Development, KPMG Australia told that there is a lack of cooperation between the business and the university sectors.

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