Future-proofing Australia’s economy
How to boost the growth and global competitiveness of Australia’s most innovative industries from aerospace manufacturing to cybersecurity software? We worked with company leaders and policymakers to develop a plan.
Around the globe, Australia may be best known for its booming resources economy. But it has much more to offer, championing innovation leaders in many other industries from medical technology to cybersecurity. In a push to accelerate the competitiveness of these promising sectors, the Federal Government has launched six not-for-profit bodies known as “Industry Growth Centres” and tasked them with creating an environment to help Australian businesses succeed on the world stage. Several Growth Centres – Advanced Manufacturing, Cyber Security, Food and Agribusiness , and Mining Equipment, Technology and Services – asked us for strategic economic guidance when developing sector roadmaps and setting their agenda.
We tapped a large network of international experts – industry participants, government officials and academics – to gain a deep understanding of each sector’s strengths and weaknesses. Extensive data analysis, combining publicly available information with results from proprietary market surveys and our own econometric models, added a robust layer to our qualitative insights.
Our approach enabled us to not only simulate future growth scenarios for the industries in focus, but also to formulate clear recommendations to help policymakers and business leaders understand what actions will likely yield the biggest economic gains.