Theme: Prosperous
Dimension: Dynamic economy that shares prosperity
Metric
Number of patent and trade mark applications in Australia, (made by both domestic and overseas applicants)
Why does this matter
If the Australian economy is to keep on delivering the improved living standards and prosperity that we need it to, innovation is key.
Innovation is a complex concept to measure. One way to track progress is the rate at which inventive activity occurs, represented through the number of filings for patents and trade marks.
This measure captures a fairly limited aspect of Australia’s innovation but provides useful insights on the innovation and introduction of new products and services that can improve the lives of Australians.
Has there been progress
Innovation investments in Australia were resilient during the COVID‑19 crisis, with the number of patent and trade mark applications both reaching record highs in 2021. While there has been a decline in 2022 from these peaks, levels remain strong.
Total trade mark applications, by Australian residents and non‑residents, has grown from 62,977 in 2013 to a peak of 88,737 in 2021, before declining to 78,833 in 2022. The COVID‑19 pandemic saw substantial growth in patenting in health and digital technology fields, reflecting demand for innovations to mitigate the crisis’ impacts. Continued strength in patenting for health technologies reflects the resilience of innovation investments during the COVID‑19 pandemic.
Similarly total patent applications, by Australian residents and non‑residents, have grown from 29,779 in 2013 to a peak of 32,409 in 2021. This has declined slightly to 32,292 in 2022.