On 18 March 2014, the following matter was referred to the Economics References Committee for inquiry and report by the first sitting day of July 2015:

The challenges to Australian industries and jobs posed by increasing global competition in innovation, science, engineering, research and education, with particular reference to:

(a)  The need to attract new investment in innovation to secure high skill, high wage jobs and industries in Australia, as well as the role of public policy in nurturing a culture of innovation and a healthy innovation ecosystem;

(b)  The Australian Government’s approach to innovation, especially with respect to the funding of education and research, the allocation of investment in industries, and the maintenance of capabilities across the economy;

(c)  The importance of translating research output into social and economic benefits for Australians, and mechanisms by which it can be promoted;

(d)  The relationship between advanced manufacturing and a dynamic innovation culture;

(e)  Current policies, funding and procedures of Australia’s publicly-funded research agencies, universities, and other actors in the innovation system;

(f)   Potential governance and funding models for Australia’s research infrastructure and agencies, and policy options to diversify science and research financing;

(g)   The effectiveness of mechanisms within Australian universities and industry for developing research pathways, particularly in regards to early and mid-career researchers;

(h)  Policy actions to attract, train and retain a healthy research and innovation workforce;

(i)   Policy actions to ensure strategic international engagement in science, research and innovation; and

(j)   Policy options to create a seamless innovation pipeline, including support for emerging industries, with a view to identifying key areas of future competitive advantage.