NSW leads on R&D and innovation

16 November 2017

Graphic light bulb launching

New research out from the University of Sydney’s United States Studies Centre shows NSW is out in front when it comes to business research and development and innovation.

The results of the report were drawn from The Global Innovation Index (GII), produced jointly by Cornell University, INSEAD business school and the World Intellectual Property Organization.

The GII assesses the innovation performance of 127 countries and economies around the world, based on 81 indicators.

NSW Trade and Industry Minister Niall Blair said the research, supported by the NSW Government, showed NSW leading other Australian and US states on key measures.

“NSW is Australia’s business innovation capital and the leading Australian state when it comes to business spending on research and development (R&D), and innovation.

“In fact, we rank 19th among the full list of 59 Australian and US states when it comes to R&D spending, ahead of US states including New York and Texas.

“The United States is a vitally important partner for NSW. Our Trade and Investment office in San Francisco last financial year generated more than AUS$271 million in foreign direct investment, attracting tech companies like WeWork, Tilt and Procore to

United States investment into Australia was worth more than $860 million billion in 2016 and two-way trade between NSW and the US worth more than $15 billion.

Read the full interactive report.