The Australia-Israel Chamber of Commerce, In Collaboration with Sky News Business, Releases Its 2017 Q1 Innovation Index Results

The Index focuses on changes in corporate culture, R&D, jobs and
consumer engagement

SYDNEY–(BUSINESS WIRE)–The Australia-Israel Chamber of Commerce (AICC), today released the
findings of their fourth dynamic innovation index in collaboration with
Sky News Business. The Q1 Innovation Index 2017, as always, provides
crucial insights for business executives and policy makers, by capturing
the current perspectives of executives on the state of innovation within
their organisations.

The key indicators in this index are continually updated to reflect the
evolution of the concept of innovation. As such, two novel indicators
were added this quarter: firstly, to assess how executives expect
innovation to affect employment; and secondly, what innovative changes
executives are making within their companies in 2017.

There were four major findings of the index:

  • Workplaces aren’t supportive enough of innovation: there has
    been a marked decline in the proportion of executives believing that
    their workplace environment allows innovation to flourish. Executives
    are also looking for more transparent structures in the workplace to
    support innovation.
  • Consumer engagement is key to business growth: executives are
    placing increasing importance on customer engagement as a driver of
    future business growth. Engagement was ranked as the largest area of
    future growth for businesses, and there has been a 100% year-on-year
    increase in executives indicating that customer engagement is an area
    for future business growth.
  • R&D is seen as the leading driver of innovation: of the
    innovation-active companies in our survey (90%), investing in
    internal R&D, or seeking collaborative R&D partnerships were seen as
    the key ways of innovating in 2017.
  • Innovation and jobs: 65% of executives believe that innovation
    will directly impact jobs in 2017. A quarter of participants think
    that innovation will reduce the need for some jobs, while four out of
    ten think that innovation will generate new jobs.

“In today’s disruptive climate the social imperative to innovate is
stronger than ever. Key themes from this index are the importance of
R&D, collaboration and a workplace environment supportive of
innovation,” said Michelle Blum, CEO of the AICC. “Australia can take
advantage of the progress and experiences in Israel, where embracing
uncertainty, collaboration, and exploring new and dynamic ways of
working, have led it to consistently be recognised as a role model for

Read the full report here.

About the Australia-Israel Chamber of Commerce

The Australia-Israel
Chamber of Commerce
(AICC) is one of the pre-eminent business forums
in Australia. The AICC provides a network of trust to connect members of
the Australian business, political and academic communities with each
other and their Israeli counterparts to encourage innovation,
entrepreneurship and inspirational leadership, with the ultimate
objective of increasing trade and investment between Australia and


Australia-Israel Chamber of Commerce
Leora Borgenicht, 0280478583