How Australia compares on innovation

HOW AUSTRALIA COMPARES ON INNOVATION:

* $1.6 trillion GDP (2015)

* Ranked 14th in the OECD on both government and business R&D expenditure

* Ranked 33rd in the OECD for business-research collaboration

* 19 per cent of service industry firms engage in R&D

* Direct provision of government research funding to business just 0.02 per cent of GDP

(SOURCE: `Translating research for economic and social benefit report', The Australian Council of Learned Academies)