A recent report by Innovation and Science Australia (ISA) highlighted the importance of innovation for continued success in the Australian economy. The report titled Australia 2030: Prosperity through Innovation makes a number of recommendations within the context of five strategic imperatives:
• Education: Respond to the changing nature of work by equipping all Australians with skills relevant to 2030.
• Industry: Ensure Australia’s ongoing prosperity by stimulating high-growth firms and raising productivity.
• Government: Become a catalyst for innovation and be recognised as a global leader in innovative service delivery.
• Research & Development: Improve R&D effectiveness by increasing translation and commercialisation of research.
• Culture & Ambition: Enhance the national culture of innovation by launching ambitious National Missions.
Knowing that these five key areas underpin the report, there are positive implications in terms of migration for potential students, skilled workers, innovators and investors. The education system in Australia is highly regarded, and foreigners can come to Australia as students to learn the skills needed to perform in a capacity that is of great use to the country. With opportunities to stay and work post-graduation, this is a way that many migrants start their path to permanent residency in Australia.
Industry’s ability to perform is driven largely by the productivity and talent of its workforce. With thousands of foreigners in Australia on skilled visas, the demand does not seem to be slowing for skilled talent, amidst a growing landscape of entrepreneurship and innovation. There are a number of options from employer-sponsored work arrangements to business investment and innovation visas. With Australia’s commitment to continued growth, corresponding opportunities for foreign talent to make their mark are within reach.