Australia Needs to Pull Its Socks Up on Investing in R&D

Entrepreneur | Nov 8, 2019 at 11:25 AM

When we compare the research and development funding of Australia’s top three companies – the Commonwealth Bank, BHP, and Westpac – with the three equivalent US companies – Microsoft, Amazon and Apple –  we see the US giants spent 11 per cent of sales on R&D in 2018, while the expenditure of the Australian leaders could not be found in their earnings statements.