Latest news with #Cochlear
Perth Now
3 days ago
- Business
- Perth Now
‘Results have been good': ASX jumps on strong start to reporting season
Australia's sharemarket continued its strong gains, setting a new record high for the fifth straight session as a strong start to reporting season outweighed weakness out of China. The benchmark ASX200 continued its march higher during Friday afternoon's trading, closing up 64.80 points or 0.73 per cent to 8,938.60, while the broader All Ordinaries finished the day up 63 points or 0.69 per cent to 9,212.10. Australia's dollar also traded 0.13 per cent higher and at the time of writing was buying 65.03 US cents. In a broad market rally, nine of the 11 sectors traded higher with only consumer staples and technology finishing lower. Camera Icon Australia's sharemarket jumped during the afternoon's trading. Picture Newswire/ Gaye Gerard. Credit: News Corp Australia The big four all gained, led by Westpac which jumped 2.14 per cent to $36.81 after announcing strong quarterly results on Thursday. ANZ also had a strong day up 1.78 per cent to $33.08, while NAB finished 0.80 per cent higher to $39.19 and Commonwealth Bank traded 0.57 per cent higher to $168.17. The materials sector helped lift the market with BHP shares up 1.08 per cent to $41.96, Rio Tinto jumped 1.41 per cent to $115.05 and Fortescue closed 1.28 per cent higher at $19.84. The rise in the materials sector came despite weakness out of China which could impact Australia's major resources sector. AMP chief economist and head of investment strategy Shane Oliver said Chinese economic data for July was soft. 'Retail sales, industrial production and investment all rose less than expected and residential property investment and sales are continuing to fall as are home prices,' Dr Oliver said. 'Unemployment rose slightly although this possibly due to grad and typhoon season.' The market ignored pressures from China, focusing on reporting season which so far has been better than expected. 'Results have been good with more upside than downside surprises, although most results have been in line, and a big increase in the number of companies reporting profits or dividends up on a year ago than in the December half reporting season,' Dr Oliver said. 'Just bear in mind though that it was much like this at the start of the last reporting season as there is a tendency for companies with good results to report early so results may soften over the next couple of weeks.' Camera Icon Nine of the 11 sectors gained. NewsWire / Damian Shaw Credit: News Corp Australia He also said consensus earnings expectations are for overall business profits to fall 1.7 per cent. If the results show this, it would be the third year in a row corporate earnings shrunk. In company news, shares in hearing implant maker Cochlear gained 0.99 per cent to $309.03 after announcing a 1 per cent increase in underlying net profits to $392m, while revenue was up 4 per cent. Cochlear said it aimed to help more than 60,000 people to hear using one of its devices over the next year, up from 53,000 in the last financial year. Shares in Amcor sank 9.70 per cent to $13.60 after announcing its fourth-quarter results showing weakness out of its North American businesses. Baby Bunting soared 40.54 to $2.60 on its latest earnings with the business aiming to double its store network. According to its results until June 29 sales grew by 4.7 per cent to $521.9m, while margins increased and underlying net profit under tax soared 228 per cent to $12.1m.
Sky News AU
3 days ago
- Business
- Sky News AU
ASX 200 climbs on Friday as hearing implant company Cochlear slides amid lacklustre 2025 financial year result
The ASX 200 lifted on Friday as the results of Australia's largest companies continue to roll in this reporting season. The index grew 0.3 per cent in the first hour of trading. Hearing implant maker Cochlear fell 2.2 per cent after it posted a nine per cent profit jump to $389m for the 2025 financial year. It also revealed a five per cent increase in its full-year dividend to $4.30. Despite the company's profit lifting, RBC Capital Markets analyst Craig Wong-Pan said the result was poor as it came in at the low end of the company's profit range. "We expect the stock to underperform the market today," Mr Wong-Pan said. Property developer Mirvac sank 1.5 per cent after revealing its revenue fell 10 per cent while packaging company Amcor crashed 10.4 per cent amid disappointment over its full year result. Meanwhile, petrol company Ampol jumped 6.9 per cent after it announced a $1.1b acquisition of convenience store company EG Australia. In the US, Bloomberg reported the Trump Administration is considering taking a stake in semiconductor manufacturer and designed Intel, boosting the company's share price about seven per cent. On Thursday, the Dow Jones, Nasdaq and the S&P 500 all finished flat. London's FTSE 250 sank 0.2 per cent while Germany's DAX rose 0.8 per cent and the STOXX Europe 600 added 0.6 per cent on Thursday. New Zealand's NZX 50 grew 0.4 per cent while Japan's Nikkei 225 added 0.7 per cent since trading opened on Friday.
Yahoo
08-08-2025
- Business
- Yahoo
July in Review: 13 Top Health Press Releases
A roundup of the most newsworthy healthcare press releases from PR Newswire, including FDA approval for Aktiia's cuffless blood pressure monitor, Cochlear's new smart cochlear implant system and Varda's $187M Series C funding for space medicine. NEW YORK, Aug. 8, 2025 /PRNewswire/ -- With thousands of press releases published each month, it can be difficult to keep up with everything on PR Newswire. To help healthcare journalists and consumers stay on top of the month's most popular releases and newsworthy trends, here's a recap of some of the past month's most read- and engaged-with stories. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download. Lorient Closes $500 Million Fund III to Scale Founder-Led Healthcare CompaniesLorient partners with founder-led healthcare companies in the middle market, bringing sector expertise, hands-on operational capabilities, and a repeatable approach to scaling mission-driven businesses. The firm has built a track record of supporting improvements in clinical outcomes, workforce efficiency, and access to care across the U.S. healthcare system. Medicare Drug Pricing Changes Threaten Patient Access to Life-Saving Treatments The brief highlights concerns that the next round of negotiations under the Inflation Reduction Act may unintentionally restrict access to vital medications for Medicare patients. The Centers for Medicare & Medicaid Services' upcoming drug price negotiation program, which includes medications covered by Medicare Part B, would take effect in 2028. OpenEvidence, the Fastest-Growing Application for Physicians in History, Announces $210 Million Round at $3.5 Billion ValuationOpenEvidence rapidly surfaces relevant medical knowledge, synthesizes medical research, and gives clinicians the power to make faster, more evidence-based decisions—accelerating both medical literature review and clinical decision support. By reducing the lag between new evidence and bedside application, OpenEvidence enables improved patient outcomes. Dizal's ZEGFROVY® (sunvozertinib) Receives FDA Accelerated Approval as the Only Targeted Oral Treatment for Non-Small Cell Lung Cancer with EGFR Exon 20 Insertion Mutations "We are proud to have developed ZEGFROVY, a first-in-class oral therapy that offers a more effective treatment option with enhanced safety and ease of administration for NSCLC patients with EGFR exon20ins," said Dr. Xiaolin Zhang, CEO of Dizal. Former Sandoz Inc. CEO Don DeGolyer Leads PharmaTech Startup Ategenos as Company Prepares Public Launch Ategenos has been quietly developing a novel platform that integrates pharmaceutical science with real-time digital health technologies to address adherence in critical dose management. The company will share details on its SmartPatch platform and initial partnerships in the coming weeks. The Villages Health ("TVH") Announces Strategic Restructuring and Agreement to be Acquired by CenterWell "Under CenterWell, this healthcare system will continue to be a leading provider of patient-centered, primary care-driven and community-based healthcare. Our primary goal remains to keep our patients healthy and to heal them quickly, as it has always been from the inception of TVH," said Dr. Elliot Sussman, Chairman of the Board and physician founder of The Villages Health. Cochlear Launches World's First and Only Smart Cochlear Implant System This new firmware update pathway will enhance recipients' sound processor upgrades to deliver their best possible hearing experience, giving recipients more ways to access new innovations over time. It is also the first implant with internal memory, which enables unique hearing settings (MAPs) to be securely stored in the implant itself which can be easily transferred to any Nucleus Nexa Sound Processor in the future. Zimmer Biomet Announces Definitive Agreement to Acquire Monogram Technologies, Expanding Robotics Suite with Autonomous Solutions Monogram's semi- and fully autonomous robotic technologies are expected to add new and differentiated capabilities to expand Zimmer Biomet's flagship ROSA® Robotics platform and broad suite of navigation and enabling technologies. Monogram has developed a CT-based, semi-autonomous, AI-navigated total knee arthroplasty (TKA) robotic technology, which received FDA 510(k) clearance in March 2025 and is expected to be commercialized with Zimmer Biomet implants in early 2027. Aktiia's Hilo Band Becomes First Cuffless Blood Pressure Monitor Cleared by FDA for Over-the-Counter Use The milestone sets a new global benchmark for how blood pressure can be effortlessly monitored through wearable, user-friendly technology. With this FDA clearance, Aktiia is now positioned to establish Hilo as the category-defining wearable for cuffless blood pressure monitoring in the U.S. and beyond. Hengrui Pharma and GSK enter agreements to develop up to 12 innovative medicines across Respiratory, Immunology & Inflammation and Oncology The benefits from GSK's therapy area expertise, deep understanding of disease biology, clinical development capability and global commercial scale with Hengrui Pharma's early discovery engine, platform technologies, extensive pre-clinical pipeline of high-value programs and speed of clinical evaluation. Varda Announces $187 million in Series C Funding to Make Medicines in Space Varda's orbital laboratories are the first to process materials outside the International Space Station and mark the beginnings of commercial expansion into low Earth orbit. Due to the lack of gravity, materials such as the active pharmaceutical ingredients in medicines crystallize differently than they would on Earth, creating novel drug formulations that would otherwise be impossible. Waystar to Acquire Iodine Software, Accelerating the AI-Powered Transformation of Healthcare Payments The proposed transaction is expected to accelerate Waystar's ability to transform healthcare payments through its leading cloud-based software platform, empowering more than one million providers with advanced AI capabilities to prevent denials, reduce manual work, and improve financial performance. Waters and BD's Biosciences & Diagnostic Solutions Business to Combine, Creating a Life Science and Diagnostics Leader Focused on Regulated, High-Volume Testing The combined company will continue to operate under the Waters name and retain its listing on the New York Stock Exchange under the ticker symbol WAT. Waters' headquarters will remain in Milford, Mass., and the combined company will maintain a significant presence where the BD Biosciences & Diagnostic Solutions business currently operates. For more news like this, check out all of the latest health-related releases from PR Newswire. Trending Topics Among the health news that was distributed in July, the PR Newswire team was able spot several larger stories that highlight the trends shaping the industry. OBBA: The passage of the One Big Beautiful Bill Act (OBBBA) saw health providers and advocacy groups responding with both concern and praise. Shatterproof, a non-profit dedicated to reducing the burden of substance use disorder in the U.S., found itself on both sides of the bill in its statement applauding the inclusion of the permanent closure of the de minimis loophole, while also being "deeply concerned about the bill's potential impact on access to treatment for individuals living with substance use disorder (SUD)." ENDO 2025: The Endocrine Society's annual meeting took place in San Francisco July 12-15 and drew over 7,000 attendees, nearly 2,500 abstracts and over 200 other sessions. Tyra Biosciences announced details of its abstract to be presented at the meeting. Neurocrine Biosciences sent several ENDO-related announcements, including its presentation of one-year data showing the efficacy of CRENESSITY® (crinecerfont) in adults. To support this, Neurocrine presented data from the CAHtalog® Registry that showed patients are still exposed to excess glucocorticoids and often do not meet clinical targets, which underscores an unmet need that could be filled by CRENESSITY®. Do you have a health press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most. Helping Journalists Stay Up to Date on Industry News These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists. Once they're signed up, reporters, bloggers, and freelancers have access to the following free features: Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more. Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger's next story. Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles. Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more. About PR Newswire PR Newswire is the industry's leading press release distribution partner with an unparalleled global reach of more than 440,000 newsrooms, websites, direct feeds, journalists and influencers and is available in more than 170 countries and 40 languages. From our award-winning Content Services offerings, integrated media newsroom and microsite products, Investor Relations suite of services, paid placement and social sharing tools, PR Newswire has a comprehensive catalog of solutions to solve the modern-day challenges PR and communications teams face. For 70 years, PR Newswire has been the preferred destination for brands to share their most important news stories across the world. For questions, contact the team at For more news like this, check out all of the latest health-related releases from PR Newswire. View original content to download multimedia: SOURCE PR Newswire
News.com.au
06-08-2025
- Business
- News.com.au
Assistive tech targets market growth while improving lives
Demand for assistive technologies on the rise with growing global ageing population and awareness of disability inclusion Cochlear one of most high-profile ASX assistive technologies companies with legacy spanning more than 40 years Control Bionics helping thousands around the world communicate and connect in ways once thought impossible With a rising global ageing population and awareness of disability inclusion growing, demand is increasing for technologies that help people maintain independence and improve quality of life. Assistive technologies go beyond medical diagnostics or treatment by directly enabling individuals to hear, see, communicate and perform daily activities they might otherwise struggle to do. And while assistive technology delivers clear social benefits and aligns with ESG goals, it's also targeting a rapidly expanding market. Globally the assistive tech market was valued at ~US$22.9 billion in 2023 and is projected to reach US%36.6 bn by 2033, reflecting a compound annual growth rate (CAGR) of 4.8% throughout the decade. In Australia, the assistive technology sector is projected to expand from ~US$720 million in 2023 to more than US$1.7bn by 2030, driven by demographic shifts such as an ageing population and rising prevalence of long-term disabilities. Australia's substantial healthcare expenditure is also considered a pivotal driver for demand in the Australian disabled and elderly assistive device market. Global pioneer in hearing implant technology From restoring communication for those with severe disabilities to preserving vision and enhancing hearing, Australian companies have a proud history in assistive technologies with ASX blue-chip Cochlear (ASX:COH) one of the most high profile. Cochlear stands as one of the world's foremost innovators in assistive hearing technology with a legacy spanning more than 40 years. Cochlear implants and bone conduction devices are life-changing products, which have enabled hundreds of thousands of people globally across all ages to hear and communicate more effectively. Cochlear CEO and president Dig Howitt told Stockhead the organisation continued to progress new technology and care models, having recently launched the Cochlear Nucleus Nexa System, the world's first and only smart implant system. "The Nucleus Nexa Implant is the outcome of a 20 year investment in R&D and is the first cochlear implant to run its own firmware," he said. Howitt said similar to smartphones, the implant firmware could be updated to enable new features and access future innovations. "Recipients will now have access to a better hearing experience with both implant and sound processor updates," he said. "The Nucleus Nexa System builds upon Cochlear's industry-leading portfolio of electrodes, which are designed to optimise the electrode-neural interface and protect cochlea health and opens the door to even greater hearing potential for patients into the future." Enhancing sound in real-world situations While Cochlear may dominate the implantable hearing device market Brisbane-based Audeara (ASX:AUA) is carving out its own space in personalised listening solutions that sit between consumer audio products and clinical hearing aids. The flagship Audeara headphones and TV bundles the company started with use built-in hearing checks to create tailored sound profiles, ensuring clearer, enhanced listening experiences. Audeara managing director James Fielding told Stockhead the features made the devices valuable for those with mild to moderate hearing loss, or for people using cochlear implants and hearing aids who got an incredible entertainment experience when the sound was tailored to their needs. Building its portfolio Audeara launched Buds into its clinic networks this year. Unlike conventional hearing aids, Buds focus on enhancing the sound in real world situations like a busy cafe while also staying true to their entertainment focus, enhancing calls, TV and music. "We believe assistive technology should enhance the human experience without compromise," Fielding said. "At Audeara, our personalised hearing solutions empower people to connect more deeply with music, conversations and entertainment, regardless of their hearing ability." The technology also supports accessibility through government funding programs including NDIS, DVA and the Hearing Services Program, broadening its reach and affordability. With distribution in 1,500 clinics across Australia and more than 3,000 globally, including partnerships with major networks like Specsavers and Amplifon, Audeara is well positioned to capture growth in a market that's both socially impactful and commercially attractive. "The future of assistive technology is about inclusion, not limitation," Fielding said. "Audeara's mission is to ensure that hearing health solutions are seamlessly integrated into everyday life, combining clinical credibility with consumer-level accessibility." 'Giving communication back for more than two decades' Control Bionics (ASX:CBL) CEO Jeremy Steele describes the assistive technology medical device company as "sitting at the intersection of neuroscience and accessibility". "For more than 20 years, Control Bionics has been at the forefront of assistive technology innovation, helping thousands of people around the world communicate and connect in ways once thought impossible," Steele told Stockhead. Control Bionics has developed the NeuroNode – a wearable, watch-like, wireless non-invasive electromyography (EMG) and spatial sensor device to assist cognitive people with physical disabilities perform everyday functions. He said NeuroNode was globally unique as the only augmentative and alternative communication (AAC) technology of its kind that combined movement and EMG signals into a single platform. "Recognition by the US Centers for Medicare & Medicaid Services, awarding NeuroNode the first HCPCS code for an AAC device in 13 years, validates both the technology and the profound impact it delivers," he said. "We're proud to be a pioneer in the fast-emerging neurotechnology space, empowering people living with conditions like ALS, cerebral palsy and spinal cord injury to reclaim their voice and their independence." Steele said the company's objective was simple but ambitious – to expand global access to the most advanced, intuitive and life-changing assistive technologies available today. "The NeuroNode isn't just a device, it's a lifeline to communication, control and connection," he said. "We believe that every person – regardless of physical ability — deserves a way to engage with the world. "Our team's work over two decades reflects a deep commitment to designing technologies that break through barriers and restore possibility."
The Advertiser
27-07-2025
- Business
- The Advertiser
Aussies missing out on payoff from research investment
Australia is missing out on a $7 billion per year economic boon because it has failed to keep pace in the international research and development stakes, according to a new report. Tax cuts and red tape have dominated discussions ahead of Treasurer Jim Chalmers's economic roundtable. But getting investment flowing back into technological innovation is critical to fixing productivity growth, said the Business Council of Australia, along with home-grown tech companies Cochlear and Atlassian, as they released a report by consulting firm Mandala on Monday. Just by fixing research and development (R&D) policies and without increasing the burden on the budget, an extra 0.1 per cent could be added to productivity growth each year, they claimed. "Empowering businesses to make R&D investments is critical to making our economy more productive and innovative, and for delivering greater prosperity for all Australians," said the organisation's chief executive Bran Black. But Australia has slid down the international rankings in the past decade, with large businesses' R&D investment falling 24 per cent in that time. The nation's total R&D expenditure has fallen to 1.7 per cent of GDP, compared to the average of 2.6 per cent across peer economies. The report highlights six tweaks that could once again make Australia a world leader in innovation and deliver $5 of value for every $1 spent by the government. They include simplifying the tax incentive premium for R&D to a flat rate of 18.5 per cent, removing the existing tax incentive cap of $150 million, taxing profits from Australian innovations at a concessional 10 per cent rate, and incentivising collaboration between industry and research institutions. The report also called for streamlined reporting and compliance requirements to access the R&D tax incentive, and simplifying R&D grants for businesses by consolidating the various existing grants into fewer nationally significant programs. Cochlear chief executive Dig Howitt said clear, well-funded strategies would capture the full value of local innovation and attract high-value global companies. "Given that R&D and intellectual property are mobile, there are constant efforts by other nations to attract elements of Australian business's value chain - particularly our innovation, IP development and manufacturing - offshore," he said. Atlassian chief of staff Amy Glancey said Australia has always been ideas rich but has fallen short in commercialising innovations and selling them to the world. Australia is missing out on a $7 billion per year economic boon because it has failed to keep pace in the international research and development stakes, according to a new report. Tax cuts and red tape have dominated discussions ahead of Treasurer Jim Chalmers's economic roundtable. But getting investment flowing back into technological innovation is critical to fixing productivity growth, said the Business Council of Australia, along with home-grown tech companies Cochlear and Atlassian, as they released a report by consulting firm Mandala on Monday. Just by fixing research and development (R&D) policies and without increasing the burden on the budget, an extra 0.1 per cent could be added to productivity growth each year, they claimed. "Empowering businesses to make R&D investments is critical to making our economy more productive and innovative, and for delivering greater prosperity for all Australians," said the organisation's chief executive Bran Black. But Australia has slid down the international rankings in the past decade, with large businesses' R&D investment falling 24 per cent in that time. The nation's total R&D expenditure has fallen to 1.7 per cent of GDP, compared to the average of 2.6 per cent across peer economies. The report highlights six tweaks that could once again make Australia a world leader in innovation and deliver $5 of value for every $1 spent by the government. They include simplifying the tax incentive premium for R&D to a flat rate of 18.5 per cent, removing the existing tax incentive cap of $150 million, taxing profits from Australian innovations at a concessional 10 per cent rate, and incentivising collaboration between industry and research institutions. The report also called for streamlined reporting and compliance requirements to access the R&D tax incentive, and simplifying R&D grants for businesses by consolidating the various existing grants into fewer nationally significant programs. Cochlear chief executive Dig Howitt said clear, well-funded strategies would capture the full value of local innovation and attract high-value global companies. "Given that R&D and intellectual property are mobile, there are constant efforts by other nations to attract elements of Australian business's value chain - particularly our innovation, IP development and manufacturing - offshore," he said. Atlassian chief of staff Amy Glancey said Australia has always been ideas rich but has fallen short in commercialising innovations and selling them to the world. Australia is missing out on a $7 billion per year economic boon because it has failed to keep pace in the international research and development stakes, according to a new report. Tax cuts and red tape have dominated discussions ahead of Treasurer Jim Chalmers's economic roundtable. But getting investment flowing back into technological innovation is critical to fixing productivity growth, said the Business Council of Australia, along with home-grown tech companies Cochlear and Atlassian, as they released a report by consulting firm Mandala on Monday. Just by fixing research and development (R&D) policies and without increasing the burden on the budget, an extra 0.1 per cent could be added to productivity growth each year, they claimed. "Empowering businesses to make R&D investments is critical to making our economy more productive and innovative, and for delivering greater prosperity for all Australians," said the organisation's chief executive Bran Black. But Australia has slid down the international rankings in the past decade, with large businesses' R&D investment falling 24 per cent in that time. The nation's total R&D expenditure has fallen to 1.7 per cent of GDP, compared to the average of 2.6 per cent across peer economies. The report highlights six tweaks that could once again make Australia a world leader in innovation and deliver $5 of value for every $1 spent by the government. They include simplifying the tax incentive premium for R&D to a flat rate of 18.5 per cent, removing the existing tax incentive cap of $150 million, taxing profits from Australian innovations at a concessional 10 per cent rate, and incentivising collaboration between industry and research institutions. The report also called for streamlined reporting and compliance requirements to access the R&D tax incentive, and simplifying R&D grants for businesses by consolidating the various existing grants into fewer nationally significant programs. Cochlear chief executive Dig Howitt said clear, well-funded strategies would capture the full value of local innovation and attract high-value global companies. "Given that R&D and intellectual property are mobile, there are constant efforts by other nations to attract elements of Australian business's value chain - particularly our innovation, IP development and manufacturing - offshore," he said. Atlassian chief of staff Amy Glancey said Australia has always been ideas rich but has fallen short in commercialising innovations and selling them to the world. Australia is missing out on a $7 billion per year economic boon because it has failed to keep pace in the international research and development stakes, according to a new report. Tax cuts and red tape have dominated discussions ahead of Treasurer Jim Chalmers's economic roundtable. But getting investment flowing back into technological innovation is critical to fixing productivity growth, said the Business Council of Australia, along with home-grown tech companies Cochlear and Atlassian, as they released a report by consulting firm Mandala on Monday. Just by fixing research and development (R&D) policies and without increasing the burden on the budget, an extra 0.1 per cent could be added to productivity growth each year, they claimed. "Empowering businesses to make R&D investments is critical to making our economy more productive and innovative, and for delivering greater prosperity for all Australians," said the organisation's chief executive Bran Black. But Australia has slid down the international rankings in the past decade, with large businesses' R&D investment falling 24 per cent in that time. The nation's total R&D expenditure has fallen to 1.7 per cent of GDP, compared to the average of 2.6 per cent across peer economies. The report highlights six tweaks that could once again make Australia a world leader in innovation and deliver $5 of value for every $1 spent by the government. They include simplifying the tax incentive premium for R&D to a flat rate of 18.5 per cent, removing the existing tax incentive cap of $150 million, taxing profits from Australian innovations at a concessional 10 per cent rate, and incentivising collaboration between industry and research institutions. The report also called for streamlined reporting and compliance requirements to access the R&D tax incentive, and simplifying R&D grants for businesses by consolidating the various existing grants into fewer nationally significant programs. Cochlear chief executive Dig Howitt said clear, well-funded strategies would capture the full value of local innovation and attract high-value global companies. "Given that R&D and intellectual property are mobile, there are constant efforts by other nations to attract elements of Australian business's value chain - particularly our innovation, IP development and manufacturing - offshore," he said. Atlassian chief of staff Amy Glancey said Australia has always been ideas rich but has fallen short in commercialising innovations and selling them to the world.
