Innovation in Australia: A Patent Analytics Study

Abstract

Traditionally, Australian economy has been dependent on mining operations and farming. Although there has been much innovation in mining sector, other sectors have been neglected. In comparison with the other OECD (Organization for Economic Co-operation and Development) countries, R&D investment by both private and government entities is low in Australia. Often used as a key parameter for innovation, patent filing in Australia has significantly decreased in comparison with the OECD countries. Recently, however, the mining industry has shown a scale down as well. Australia, thus, needs a full range of options in other sectors to boost innovation, commercialization of inventions and thus revenue generation.We looked at the patents filed in Australia to analyse the current state of innovation. We used the patent applications filing data in the Austrian Patent Office during the period 2010-15, for the analysis. The criteria that we used to gauge the state of innovation in Australia were as follows:- Patent filing trend: The number of patents filed in a country help you gauge how it is performing in terms of research.- Resident vs. Non-resident patents: The trend helps you gauge whether people of the country are driving the wagon of innovation or some foreign country is responsible for it.- Top countries involved in filing: Building from the to the above criterion, which are the foreign countries filing patents in Australia.- Top companies involved in filing: The criterion helps one understand the chief innovators in an economy.- Top technologies: The criterion showcases most popular technologies in a country.- Top law firms involved in filing: The criterion reveals which law firms were responsible to get an invention protected in a country.