Australia’s innovation efficiency is a wicked problem needing a solution. The ability for Australia to capitalise on its research efforts has consistently ranked well below expectations.
One of the key opportunities for philanthropy is to innovate and test solutions that can be scaled to assist in solving wicked problems such as this and contribute towards making a sustainable and system-wide improvement.
The World Intellectual Property Organisation (WIPO) has recently released the 2017 Global Innovation Index report. Once again, our outcomes perform poorly against our inputs leading to an innovation efficiency ranking of 76 out of 127 countries.
In 2014, NFMRI implemented a strategy to assist with early biomedical innovations. Success will not only mean that new medicines, diagnostics, vaccines, devices and tools will be available to help those in need, but it will also provide socioeconomic benefits to Australia and Australians.
With two years of funding and support, our latest annual report highlights emerging case studies, the importance of collaboration, and the potential to test and scale ideas.
Join the conversation at NFMRI’s third annual conference, “Philanthropy: Creating Impact and Dancing with Elephants”. The conference will take place on the 21st and 22nd of November 2017 at the Australian National Maritime Museum in Sydney.