Commonwealth Consolidated Acts Commonwealth Consolidated ActsThe object of this Act is to position Australia as a leading innovation nation by:
(a) facilitating the provision of independent strategic advice about investment in industry, innovation, science and research; and
(b) supporting and encouraging collaboration in the development and delivery of programs relating to industry, innovation, science and research; and
(c) authorising spending on programs relating to industry, innovation, science and research; and
(d) promoting the development, and improving the efficiency and international competitiveness, of Australian industry by encouraging R&D activities, innovation and science activities and venture capital activities.