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World's leading innovators focus on growth opportunities

14 November 2014

One hundred and seventy of the world’s leading innovators are meeting in Brisbane today to consider how they, and their governments, can work together to boost innovation across the G20.

The inaugural Innovation 20 or I-20 forum will identify opportunities for innovation to grow economies.

Opening the forum, on behalf of the Prime Minister Tony Abbott, Bob Baldwin, Parliamentary Secretary for Industry said innovation is an essential component of economic, social and public growth globally.

“Without innovation the great discoveries made through research and development will not be brought to fruition, to benefit the G20 nations by accelerating economic growth,” Mr Baldwin said.

“Today’s forum brings together an expert group from across the G20 to examine all aspects of implementing innovation, including the role of governments, the drivers of innovation, R&D breakthroughs and challenges and innovation investment strategies.

“The Australian Government is highly focused on boosting innovation through new programmes that support our Industry Innovation and Competitiveness Agenda.  The Boosting Commercial Returns from Research strategy, Industry Growth Centres initiative and the Entrepreneurs Infrastructure Programme will all bring industry and researchers together to ensure that we are globally competitive.”

The international forum has been organised by Life Sciences Queensland Limited (LSQ), an industry led organisation that advocates the role of the life sciences industry and innovation in economic development and sustainability.

“Successful innovation not only affects all knowledge based industries, but is essential to all businesses that are looking to grow and increase productivity,” said Mario Pennisi, CEO of Life Sciences Queensland.

“The key to successful innovation is applying knowledge produced through research to generate an outcome – innovation is the highway to achieving impact and making a real difference for our stakeholders.

“That is why we have convened today’s forum and why we are working with Turkey, next year’s G20 host, to integrate this forum into the annual G20 meeting program.”

Media contact: Mr Baldwin's office 02 6277 4200