Small and medium enterprises (SMEs) are playing an increasing role in Australia’s innovation system, the latest Australian Intellectual Property Report found. Prepared by federal government agency, IP Australia, the report provides analysis on trends in technology, commercialisation, and trade, using the latest intellectual property (IP) statistics.
The agency said this year’s report looked at the role of IP in the journey from invention to commercialisation, the dynamic link between IP rights and innovation, and Australia’s increasing prominence in the global market for clean energy generation and storage.
Industry minister Ed Husic said Australia’s capacity to generate valuable IP depends on organisations exchanging bright ideas and working collaborative “in pursuit of excellence”.
“IP rights help facilitate technology transfer and can provide small innovators time to develop commercialisation capability.
“Innovation based on collaboration, cooperation and the exchange of know-how is vital to Australia’s economic success. By supporting Australians on their innovation pathways, we can together tackle some of the world’s most pressing and persistent challenges,” Husic said.
Key highlights of the report
Australian filings increase: Despite global economic challenges, Australian residents increased their filings for all registered rights.
Small business and innovation: IP Australia research underscores the increasing contribution of small and new firms to Australian innovation, and IP considerations in bringing new ideas to market.
Clean technology a key driver: Among 19 major economies, Australia is the second fastest growing destination for clean energy patent filings, reflecting our position as a global market for clean energy generation and storage.
IP Australia said the research showed the growing role of small and medium enterprise (SME) in Australia’s innovation system.
“This reflects a shift in the pathways to innovation, with successful innovations often involving basic research by universities, start-ups identifying commercial applications, and large firms scaling innovative ideas.
“In the last two decades, the number of SMEs that hold patents grew five times faster than those without patents – a trend not seen with larger firms. Check out our research about the path between collaboration and commercialisation,” the report said.
Despite inflation and tighter financial conditions, patent filings by Australian residents rose by 2.4% in 2023, particularly for consumer products. Overall filings fell by 2.4 per cent, mainly due to fewer filings from the United States where patenting companies are highly responsive to interest rates.
Patents for clean energy technologies are increasing in Australia and there’s also been sustained patent growth in semiconductors, an essential component of digital devices.
Trademarks, a leading economic indicator, grew seven per cent on 2022 figures – driven by a 10 per cent jump in filings by Australians. The number of new Australian businesses increased in 2023 after sharply falling in 2022 and businesses use trademarks in launching.
Filings from the US declined, while those from China rose by 50 per cent. Major European discount supermarket chain Lidl Stiftung & Co KG entered as a top international filer in Australia. Trademarks are focused on high-tech manufacturing industries, and information-intensive services such as advertising and education.
Click here for the full report.
