“NAB congratulates the Federal Government on its release of a comprehensive National Innovation and Science Agenda. At NAB, we are supportive of this approach through the work we are doing in our dedicated environment for service and product innovation, NAB Labs, and our $50 million fund, NAB Ventures that will help us access ideas and capabilities from across the globe through partnerships and investments.

“As the biggest lender to Australian businesses, we believe the Government’s Agenda will help promote growth through support for small businesses and the creation of a digital marketplace to assist small and medium enterprises compete for government IT contracts. And, we support the Government’s incentives to link research to commercial outcomes. As the banker for many of Australia’s largest universities and research centres, we look forward to working with our customers to support these links.

“NAB’s Business Innovation Survey published in September found that innovative firms are optimistic about Australia’s future economic growth, citing regional opportunities, digital technology, tourism and Australia’s ageing population as key growth areas. The measures outlined in this plan will help business and industries become more successful because it will encourage greater collaboration, investment and employment.”

– NAB CEO Andrew Thorburn