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TechnologyOne urges Australia to boost local tech innovation with government procurement support amid declining R&D spending.
Australian tech company TechnologyOne is pushing for stronger government support of domestic innovation, arguing that its long-term R&D investments—driven by global competitiveness, not subsidies—have helped it grow steadily.
CEO Edward Chung criticized Australia’s declining R&D spending, which fell to 0.88% of GDP by 2025 from 1.37% in 2010, well below the OECD average.
He called for a “grand bargain” where government procurement favors local tech providers, urging agencies to ask, “If not Australian, why not?” The push is part of the “Back Australia” campaign, backed by major firms, to boost homegrown innovation amid rising reliance on foreign technology and growing global competition.
TechnologyOne insta a Australia a impulsar la innovación tecnológica local con el apoyo de compras gubernamentales en medio de la disminución del gasto en I+D.