What does the international Organisation for Economic Co-operation and Development (OECD) know about R&D activity? Quite a lot judging by all the studies it has sponsored.
Firstly, a quick history. The OECD began under another name in 1948 as purely a European body of a few member countries to address post-WWII economic issues. But in 1961 the current format of thirty four high-income economies, including Australia, evolved to monitor policies, share knowledge and rate performance.
In 2001 Australia sought to stimulate R&D expenditure through tax relief. Because both R&D grant funding and tax benefits have been significant in Australia, as elsewhere, the OECD has studied activity in this sector for most member countries and reported about behaviours and impacts.
The last OECD report about Australian R&D, although six years old, still has relevance today. Innovating companies were found to build competencies, create networks and achieve commercialisation far more readily in the government-supported R&D sector.
Positive impacts on company behaviour through R&D included a better understanding of benefits arising, higher commitment to innovation, improved management of the process, enhanced business strategy and more collaboration with universities; all commendable outcomes just as valuable today.
The message is compelling, innovation is vital, and Eundo provides quality R&D advice to help start-ups and established corporate’s alike.
