CommBank-Melbourne Institute Innovation Index shows Australian business innovation hits 2023-24 high

Reuters2026/09/10 06:32

By:Reuters

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Commonwealth Bank-backed Innovation Index showed Australian business innovation at a record high in 2023-24, near 110 versus 2016-17 at 100.
Momentum stalled, with the measure broadly flat from 2021-22 through 2023-24 despite longer-term gains.
Wholesale trade led industry rankings, ahead of manufacturing and professional, scientific and technical services.
Victoria topped state scores in 2023-24, extending its lead over NSW since 2017-18; both stayed above benchmark across the period.
Western Australia outpaced Queensland, with faster-than-national index growth since 2021-22; biotechnology led emerging technology sectors.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Commonwealth Bank of Australia published the original content used to generate this news brief on September 11, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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CommBank-Melbourne Institute Innovation Index shows Australian business innovation hits 2023-24 high

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