In a proposition to develop the economy away from a reliance on mining, the Australian government launched the National Innovation and Science Agenda (NISA) last December. Now, the Turnbull government has followed through on the agenda’s proposal to offer new grant initiatives aligned with the objectives of the Global Innovation Strategy. In specific, the Minister for Industry, Innovation and Science, the Hon Greg Hunt MP, announced the launch of the $18 million Global Innovation Linkages (GIL) Programme earlier this month. The […]
July Brings New Tax Incentives As of July this year, young companies focused on innovation have greater hope for expansion. To elaborate, the new tax incentives for Early Stage Innovation Companies (ESICs) provide a maximum 20% offset for qualifying expenses capping at $200,000 each year for the investor and affiliates. The measures are ultimately a triumph for the Australian startup ecosystem and will aid in increasing the amount of capital available to Australian startups. It is important to note that […]
The young generation, often seen adorned with iPod earphones and the latest smartphone or tablet in tote, have grown up in a world where the Internet has become enmeshed into daily existence. Indeed, there is a sociological portrait of young people as being effortlessly tech savvy. However, a new report reveals that young Australians are less prepared for the digital revolution than comparable countries. The report, Amplifying Human Potential: Education and Skills for the Fourth Industrial Revolution, was based on a […]
“Innovation” – the term has essentially become shorthand for all that encompasses future business in Australia since Turnbull’s rise to Prime Minister in September. From doubling investments in research and development (R&D) for clean energy to making coding compulsory in schools, Turnbull has vowed to put innovation at the heart of his Government’s agenda. Consequently, the innovation statement was unveiled in December 2015 and provided a blueprint for a $1.1 billion plan to foster greater innovation with 24 new measures across 11 different Government […]