Turn science into value: Aussie’s lessons for a stronger economy

Australia has grown wealthy by exploiting its vast mineral resources, but successive governments have also identified the need to move beyond extractive industries and have invested in science to come up with alternatives.

On The Business of Tech this week, I sit down with Dr Cathy Foley, Australia’s former Chief Scientist, and a 40-year veteran of the CSIRO, Australia’s highly respected public research institution, to talk about Australia’s science-powered economic transformation, and what we can learn from it.

Australia’s focus on advanced technologies like quantum computing, advanced manufacturing, AI, and clean tech has weathered political changes. Foley highlights the need for strategic coordination, leveraging strengths, and carving global supply chain niches, a model that New Zealand and others can follow. 

“Fewer, bigger things. Focus on areas where you’ve got strengths, and turn that into global market supply chains,” she advises New Zealand.

Tune in to episode 116 of The Business of Tech for the full discussion powered by 2degrees Business, streaming on iHeartRadio or wherever you get your podcasts.

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