Wednesday, 30 November 2016 12:36

NSW adopts strategy to spur innovation

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The NSW government has set aside $10 million from its Jobs for NSW agency to increase the network of start-ups and incubators, and also earmarked $3 million for direct grants to start-ups.

This is one initiative announced on Wednesday by the state's Minister for Innovation and Better Regulation Victor Dominello and Minister for Industry, Resources and Energy Anthony Roberts as part of the NSW Innovation Strategy.

Additionally, a ministerial innovation committee will be set up to oversee implementation of the strategy and encourage agencies to innovate.

A third measure will be the launch of an innovation concierge that will improve communication between entrepreneurs and the government.

Said Dominello: "The digital age has transformed technologies, businesses and consumer expectations. It is imperative that government agencies embrace new ideas and ensure that current and future policies reflect the disruptive age in which we live."

And Roberts added: "It is important that we continue to improve our innovation capabilities, prepare for new technological and economic opportunities and grow more jobs for the people of NSW."

The government also announced the new members of its Innovation and Productivity Council, which will be chaired by Neville Stevens. It will advise the government on policies and strategies.

Cicada Innovations chief executive Petra Andren welcomed the government’s announcement.

“Putting innovation front and centre sends a strong message to industry, researchers and financiers. Especially advanced technology, which should be the focus, and not just market-based apps," said Andren who heads what is Australia's leading business incubator for deeper technology start-ups and scale-ups, and the 2014 world's best business incubator.

“I congratulate Minister Dominello and Minister Roberts on this forward-thinking approach," he said.

“NSW has a growing reputation for advanced-technology start-ups and scale-ups, and today’s plan will encourage entrepreneurs and their backers. Advanced-technology is key to sustained innovation, skilled jobs growth, game-changing research and purposeful IP."

A copy of the strategy can be downloaded here.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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