Businesses in other major economies make far better use of their PhD talent pool than Australian business. Fostering real innovation needs more than vocational experience and PhD students offer a rich vein of talent to tap into.
Australian business is missing the "next big thing" in industry because they were not employing enough Australian PhD students, University of Queensland Vice Chancellor Peter Hoj told a university business forum in Brisbane on Thursday. Professor Hoj said in Australia 50 per cent of PhD students remained in academia, while only half worked in industry. In the United States and Europe almost 80 per cent of PhD graduates were employed in business.