Science & Technology Australia (STA) has today announced a major new national leadership initiative to better connect Australia's world-class science with the nation's economic and business decision-making.
Science Meets the Economy will equip STEM industry professionals with the skills and insight to engage more effectively with business leaders, utilising their knowledge, methods and technological know-how to translate scientific evidence for use in real-world economic and strategic decision-making and outcomes.
At a time when Australia faces increasingly complex technological, environmental and economic challenges, the program will address a critical gap: the underrepresentation of STEM expertise in boardrooms, executive teams and other key decision-making forums.
STA President Jas Chambers said this initiative comes at a pivotal moment for Australia's research and development system.
"Australia stands at a critical juncture. The recently released Ambitious Australia report has made it clear that we need a more connected and coordinated innovation system to secure our future prosperity that is deeply intentional and multigenerational in scope," Ms Chambers said.
"We have world-class research capability - but we're not consistently translating that into economic outcomes. Science Meets the Economy is about closing that gap."
The new initiative will complement STA's flagship Science Meets Parliament program, which for 26 years has successfully connected STEM professionals with political decision-makers, strengthening the understanding of how evidence can play a role in policy.
Together, the two programs will help develop a pipeline of leaders able to navigate and influence Australia's policy, business and research ecosystems.
"For too long, Australia's R&D system has been fragmented, with too few pathways connecting researchers, industry and decision-makers," Ms Chambers said.
"If we want to lift productivity, build new industries, navigate environmental challenges, and remain globally competitive, we need to embed scientific and technical expertise alongside financial, legal, risk, and strategic capabilities. That integration is essential for robust, defensible, and truly innovative business and economic decision-making."
Building translational leaders for a changing economy
Science Meets the Economy will develop STEM professionals who can operate confidently across both scientific and commercial environments.
Participants will gain a deeper understanding of:
• how businesses make decisions and manage risk
• the economic forces shaping industries and investment
• how to communicate scientific evidence in commercially relevant ways
Program alumni will be equipped to take on influential roles across the economy - as advisers, board members, industry partners and leaders driving evidence-based decision-making.
Ms Chambers said building this capability is essential to unlocking the full value of Australia's R&D investment.
"We know that stronger collaboration between research and industry drives innovation, attracts investment and creates jobs," she said.
"That happens successfully when people can move between those worlds - understanding both the science and the commercial realities of business. Science Meets the Economy is STA's response to Ambitious Australia and we are stepping up to build that two-way literacy."
Science Meets the Economy aims to deliver long-term, system-wide cultural and societal change by building a national network of "translational leaders" who can connect science, business and policy.
"By building leaders who can translate evidence into action, we can strengthen our innovation system, intentionally boost R&D investment, and ensure Australia is both generating knowledge - and turning it into national prosperity."
Learn more about Science Meets the Economy:
https://scienceandtechnologyaustralia.org.au/what-we-do/science-meets-the-economy/
