The Prime Minister's hand-picked innovation Tsar wants more superannuation money for venture capital, improvements to the R&D tax breaks scheme, more access to government data for research, and less "fear of failure".

Veteran venture capitalist Bill Ferris, who will be named chairman of Innovation Australia on Tuesday, said the controversial "patent box" system of tax breaks for income from intellectual property developed in Australia, was an option for the government's innovation statement due next month.