In the interest of echoing the mining boom with a more perpetual “ideas boom”, the government released its flagship Innovation Statement on Monday this week. The Innovation Statement revolves around four chief areas: culture and capital, collaboration and skills, incentivising risk and government as an exemplar. In particular, key elements of the agenda comprise of a 20 per cent rebate for investments in start-ups and a easing of insolvency laws to spur risk-taking by company directors. However, contrary to the expectations of many […]
From mining booms, population booms and housing booms – Australia’s history has been littered with ‘bangs’ of productivity. Now, according to the Turnbull government, we are engaged in an ‘ideas boom’ – where all that confines us is our imagination. Certainly, the creation of ideas, or innovation as it is otherwise known, goes hand in hand with research and development (R&D). Hence, in light of the Innovation Statement released yesterday (which we have overviewed here), many have been curious about […]
“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. Today, the first major economic statement towards making this goal a reality was released. The Innovation Statement, pitched as a blueprint for transforming the Australian economy, […]
By just browsing the ‘innovation’ segment of any news website one may feel bombarded with headlines about digital disruption, coding, technology start-ups and Silicon Valley. Begging the question, where do less (traditionally) tech-savvy industries stand as Australia embarks on an innovation journey? Agriculture, in particular, could largely benefit from a ‘beefing’ up of innovation. Despite posing as somewhat of a benchwarmer for the last decade as the resource sector flourished, agriculture has recently revived as an export earner as the […]