Let's encourage and enable students to take a gap year in order to launch a startup. This would spark the launch of 1000s of new startups each year, creating a massive entrepreneurial culture. The National Enterprise Initiative Scheme (NEIS) already provides ~$12k over the course of a year to help start a business. You first need to qualify for NewStart, and they require an 8-week Business Cert IV course which results in one of those outdated 100-page business plans. Most NEIS businesses are small, local, non-scalable, non-tech startups.
As a student in a sharehouse, $12k is just enough to live off (particularly outside Sydney). Though if we reconfigure NEIS and combine it with something like Bill Shorten's "Startup Year" HECS-funded idea, we could bump that to ~$30k and enable any student regardless of NewStart eligibility to "take a gap year and launch a startup". Replace the Business Cert IV with a lean startup bootcamp and lean canvas business plan, and encourage students to launch global, scalable technology startups. Provide all students with free coworking space either at their local university or one nearby (if exists). Provide mentorship and super close ties to their local startup scene (eg free hotdesking at nearby incubators and coworking spaces).
For many students this will be their first startup, and so it's expected that most will fail. But that's completely ok. The initiative will have spread the entrepreneurial bug across 1000s of young Australians. Students will find it much easier to get a job with "launched a startup" on their resume, and they will inevitably be itching to launch their next startup in the future.
The whole initiative could be started now with no additional funding required. Full breakdown here: https://www.facebook.com/notes/gongstartups/how-to-launch-1000-new-startups-per-year-in-australia-with-no-additional-funding/841940902549264