The Government will launch a public information and community engagement campaign in support of its National Innovation and Science Agenda.
Prime Minister Malcolm Turnbull announced the Government's innovation statement in December, including a $250 million Biomedical Translation Fund to develop and commercialise promising outcomes from Australia’s research.
It also included new tax breaks for early stage investors in innovative startups and a new Global Innovation Strategy.
According to Minister for Industry, Innovation and Science, Christopher Pyne, “The agenda heralds a critical and exciting time for the Australian economy. Its measures support innovative businesses, boost private investment in research commercialisation, fund critical research infrastructure and STEM skills and increase access to capital for high potential startups.”
Mr Pyne said the campaign is an important measure of the agenda designed to raise awareness and drive a culture change to embrace risk-taking and entrepreneurship.
“Culture is one of the agenda’s four pillars because Australia must make the cultural shift to being a nation that is more inclined to take a chance on its ideas,” said Mr Pyne.
“Research carried out for my department shows that less than 5 per cent of Australians think we are global leaders in innovation despite home-grown developments like the Cochlear Implant and WiFi that have reshaped our world.
“The research shows businesses in general can identify more reasons to not innovate than to innovate. The campaign will encourage businesses to overcome this natural resistance.”
The research also showed that advances in health are viewed as the most important reason for Australia to innovate, followed by jobs and better living standards.
“This campaign, developed using the research, will be designed to help change the culture around innovation and science in our businesses and engage young people to help inspire our future entrepreneurs,” said Mr Pyne. “It will also raise awareness across the board about grants and new capital raising measures to any Australian wanting to take a risk on a new business venture.”