Innovation is the highest in regional centres that have research and development institutions and there are only 26 of these in regional Australia. But more than 150 regional areas have potential to match this innovation, a new index finds.
In conjunction with the Regional Australia Institute we’ve developed an Innovation Index that maps the national spread of two complementary aspects of innovation – research and development and “business dynamo”. The measure of research and development is focused on technical expertise and the number of applications for patents and the business dynamo measure incorporates startup rates, trademarks and the number of business to business services.
