The Federal Government is committed to making innovation a centrepiece of the Australian economy. Policy Hack is an opportunity for industry to develop and pitch innovative solutions to some of Australia’s most pressing policy problems and help foster the growth of innovation industries in Australia.
Along with Assistant Minister for Innovation Hon. Wyatt Roy MP, BlueChilli will bring together representatives from startups, VC funds, accelerators and other components of the innovation ecosystem, with policy experts from departments of Treasury, Industry and Communications to collaborate in a one-day industry policy hackathon in Sydney, Saturday 17 October 2015.
We’ll use the hackathon methodology to nominate, select and work together in mixed teams on new government policy ideas designed to foster the growth of innovation industries including tech startups, biotech, agtech, fintech, renewables and resources.
Funding, taxation, education, migration — everything is on the table.
The champions on the highest voted policies will be invited to Sydney to lead teams on the day to workshop their ideas with government representatives.
The goal is to present a set of creative new ideas to an audience of government officials by the end of the day, to give them the top-line thinking from which full policy can be developed and implemented.
If you have a policy idea or you’d like to see and vote on which policy ideas are collaborated on at Policy Hack, you can get started right now.
Funding, taxation, education, migration — everything is on the table.
This forum is finished. It closed about . You can still look at and comment on existing ideas!
“Governments fund science and research because it produces the technological innovations and advancements in knowledge that improve the economic productivity and living standards. However, to date we don’t understand well the outcomes of the approximately $6 billion annually in publicly funded research investment and how this research generates innovations and discoveries that benefit society. Government could benefit by measuring and mapping public research investment against indicators of economic and societal value creation to better understand the dividend to society and determine how to improve how we invest in science.
Measuring the societal and economic return of publicly funded research investment is hard. Part of the problem is the lag between research and bringing a product to market, particularly in medicine where the safety barrier is necessarily high. Another challenge is that some major discoveries are made serendipitously in a scientific field that was previously thought to be unrelated. A further problem is that time, funds, and IP to undertake commercialisation is even harder to attain than funding for the research, consequently many discoveries are commercialised much later and usually not by the discoverer.
Consequently there are not have good answers for key questions such as how much have we benefited from this investment, and what much can we expect from future investment in science and research. This makes it difficult to argue for sustaining or improving the funding to attain better outcomes in future. These questions are now not insurmountable with available data. There is a significant amount of data measuring indicators of public research funding and analysis of these metrics against public research investment is likely to yield insights into the outcomes from public research funding and potentially ways to improve funding effectiveness. ”
“The start-up ecosystem forms just one of four key stakeholders in ICT Innovation in Australia, and the smallest from an employment, investment, and GDP perspective. The other three include: Academic & Industry Research; Government; Enterprise & Small-to-Medium Business.
Let's work on policies that enable these stakeholders to work together; that incentivise collaboration and consortia.”
“Innovation Funding. A Central Government Bank lending unsecured funds.
1. Lend with no expectation of repayment unless the product reaches the marketplace.
2. Take repayment and profit from sales of the product. Funding for product development is a major headache for the entrepreneur. They need a bank that makes NO demands until the product is brought to market. Give the entrepreneur sufficient funds with no demand for repayment unless and until the product is brought to market. Profits can then be taken as a loan repayment and/or a continuous royalty that is easy to figure into the pricing structure. How many products fail to come to market because of inadequate funding or over-rapacious lenders? How many Companies fail to take a step to expand because of overbearing terms for finance? This idea is based upon an organisation established in France in the 70s I think. At that time it had a venture success rate in the 80+% which was higher than most venture capitalist funds and the banks. ”
“Overhaul Australia's base load electricity generators, replacing ageing and inefficient plan with supercritical and ultrasupercritical generators which would slash emissions (both carbon and trace metals) while reducing energy costs for both domestic consumers and businesses, with particular benefits for manufacturing. This would create a basis for investment in other productivity boosting and innovative technologies by ensuring Australia has a firm economic base for investment in measures that will boost skills, employment opportunities and competitiveness, while maximising Australia's natural advantages and exceeding treaty obligations.”
“Encouraging superannuation funds to invest VC funds.
With over $AUD 2 trilliion in funds under management, activating just 0.1% of this would inject $2,000,000,000 into the VC industry resolving both capital access issues and supporting the innovation ecosystem and tertiary services required to effectively manage these funds, such as IP lawyers, IT service providers and tax accountants.
These secondary value adds support the sustainability of the ecosystem beyond the availability of capital and create the potential for service exports to SE Asia as those economies shift from manufacturing to IP generation. ”
“Unleash the IP portfolio of Australia's research bodies
"Very smart engineers, business people and entrepreneurs are desperate to commercialise the incredible opportunities the CSIRO creates." That's from Adir Shiffman, CEO of Catapult Sports, one of Australia's most-successful and least-talked-about technology startups in the AFR in July 2014 - http://www.afr.com/leadership/entrepreneur/how-to-get-the-science-out-of-csiroand-intostartups-20140707-je1e3
Yet it's quite difficult first to locate and then to licence any of the IP created by CSIRO, or any of the other state- or federally-funded bodies. IP owned by the Australian people, meant to be put to work for Australians. To accelerate commercialisation of IP - with the jobs and other economic benefits that flow from it, we need to make two simple but significant changes to policy: 1) You can't use IP you don't know about. We need a policy directing CSIRO, and all other state- or federally-funded bodies to make their IP portfolios searchable through a single interface accessible to Australian entrepreneurs and businesses. 2) Quoting Shiffman again: "The community must come together to create a standard, semi-exclusive licence agreement for all IP held within CSIRO and universities." Many Australian startups have floundered within endless negotiations with federal and state-funded IP rights holders. A standard license agreement will lower costs both for licensees and licensors, and will likely return more revenue to the rights-holders than the current one-off system that can turn IP negotiations into a lawyers' picnic. Policy leadership from the Commonwealth government can see CSIRO and our world-class universities grow a range of innovative startups keen on making the most of the IP all Australians have paid to create. ”
“There is need for a national strategic framework around bridging skills gaps and accessing the right talent so that:
- academic courses can produce graduates with the right skills readily transferable to technology commercialisation
- industry is incentivised to mentor start-ups and run in-placement and exchange programmes including of their top people, to transfer skills and knowledge, share networks and build a common understanding of commercialisation pathways.