A new platform to link researchers with public and private investors is hoped to address the nation's underwhelming record on creating sustainable start-ups and translating researching into reality.

"We do have some of the best brains in the world here in NSW, we've got best research capacity, let's turn that into jobs," Premier Gladys Berejiklian told reporters on Monday.

"The government should be an enabler in that process."

The matchmaking platform was one of five priority actions outlined in a report published on Monday.

An expert advisory panel, led by businessman and former university chancellor David Gonski, consulted with scores of stakeholders.

It formed the view researchers and industry in NSW face a complex path to find people, equipment, services and funding to help translate their R&D (research and development).

"The action plan is really designed around that translation," NSW Chief Scientist and Engineer Hugh Durrant-Whyte said.

"(It's) not new research but how do we take the research we do so well and really convert that into good outcomes for everyone, for today for tomorrow for all the future."

Another priority is establishing a grant program that allows small businesses to find innovative solutions to NSW agencies' "specific, well-defined" problems.

Like the matchmaking system, the grant program will be funded with $26 million set aside in the 2020/21 budget.

The advisory panel also called for more government datasets to be published online, the systematic development of technology precinct and targeted strategic support for universities.

Its report noted that despite high-ranking universities and other bodies undertaking world-class research, the rate of collaboration between universities and business was well below Organisation for Economic Co-operation and Development averages.

R&D spending in NSW (1.9 per cent) and Australia (1.8 per cent) as a proportion of gross domestic product falls short of the average OECD nation at 2.3 per cent.

"Research translation and commercialisation, while improving, is also well below our economic peers," the report said.

"Additionally, the government itself has not been a good customer for, or active supporter of, technology-led innovation

"The NSW government will increasingly need to be proactive in attracting and creating new businesses, especially in so-called 'future industries' that will sustain economic growth, productivity and employment."

Ms Berejiklian said until now, every different government agency had its own R&D strategy.

"This now pulls everything together and gives the government a whole-of-government focus," she said.

The full report, titled "Turning ideas into jobs", is available on the Premier's department website.

Australian Associated Press