Policy Hack with Wyatt Roy

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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.

Responding to your ideas

  • Assistant Minister for Innovation avatar
    Wyatt Roy MP
    Assistant Minister for Innovation

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2 years ago

Australian innovation and invention is world class, but it is let down by a number of factors:-

1. Lack of management understanding of the commercialisation process

2. Lack of funding and advisory support to help with innovation development

3. Risk adverse industry that find it difficult to accept new innovations (unless its come from the USA)

4. Startups and SME's not willing to partner with each other to create an integrated solution. Most go out of their way to compete for the crumbs when the whole meal is on the table and available if only they had the courage.

The problem we nee...

2 years ago

Incentives for regional businesses. We've built the NBN at great expense; let's think outside Sydney and Melbourne. How can we make Wagga, Albury, Shep etc attractive?

2 years ago

High net worth individuals who invest in seed or “angel” rounds are typically called Angel Investors as they provide advice, connections and other resources in addition to their capital investment. Currently there is no incentive for angels to deploy their capital in to this asset class, and there is no mechanism to support them should the startup fail.
In the UK, the Enterprise Investment Scheme provides a 30% tax offset of Angel investment in early stage venture and provides the remaining 70% as a tax deduction should the venture fail. This is one of the leading contributors to the increase i...

2 years ago

Cut regulations, cut taxes, abolish industry subsidies, abolish duplicate Federal Departments like Industry, Health and Education, abolish the crime of having a job known as the "minimum wage", and just generally stop doing things that prevent people from working together to make their own lives and others better.

It's not that hard Wyatt, you don't need a national workshop. Just get on with it.

2 years ago

If Australia is to use science successfully to drive forward its economy and quality of life we must, as a nation, become much more adept at the science of complex systems (e.g., the human body, the Murray Darling basin system, integrated agriculture, national water systems particularly groundwater, mineral systems and how to explore for them in the covered areas of Australia).
Unfortunately our policy settings, and therefore our funding mechanisms, do not facilitate the effective undertaking and implementation of complex-system science. Given the inherent scientific capability that exists in Austra...

2 years ago

We punch above our weight in science and tech research in Australia, unfortunately, the commercial returns from this great work have historically been poor. We need to build a system like the Innovation Corps run by the National Science Foundation in the US that works with researchers using lean startup methods to support more successful commercialisation. There are pockets of expertise in doing this sort of thing, but it mostly sits in accelerators that treat this as proprietary knowledge, so it doesn't spread very far. If we run it centrally, with delivery hubs around the country as the NSF does, ...

2 years ago

In my experience, one of the biggest pain points in growing a startup is in hiring and recruitment, which stems from issues in education. There are not very many students studying courses which teach them how to code. Those that do, and are good, get snapped up very quickly by the highest bidder (often a Silicon Valley behemoth). Encouraging more students to study technology related degrees is a good idea for many reasons. Making the local job market more enticing for these students, and especially the job market within growing startups, is a great way to get them actively involved in innovation from...

2 years ago

Entrepreneurship education includes learning technical skills (e.g. book-keeping), soft skills (entrepreneurial mindset), and the business life-cycle (e.g. concept development).

Embedding entrepreneurship studies in high school and tertiary education will give young Australians the skills and confidence required to launch a business.

2 years ago

As a 20 year old currently going through the university system and having just completed the HSC after 12 years of schooling, there are only two things that stand out to me: that I still see no value in 90% of the content that I learnt at school, and that despite this, according to the ATAR system, I am apparently smarter than 90% of the students my age. What do I have to show for it? A basic understanding and a will to address the world’s problems, but absolutely no confidence in my ability to do so.

The single thing that sets humanity apart from every other species in the animal kingdom is ou...

2 years ago

Innovation opportunity for every working Australian

Over 90% of Australians are employed in jobs within existing industries, which deliver $2000 Billion of GDP.

Innovation in established organisations creates the most value for the economy, and yet is often overlooked in the discussion about innovation and entrepreneurship. While start-ups are important, they are high risk/high reward, require new capital and impacts are relatively long term; existing organisation innovation can be managed, is funded internally and can have immediate impact.

Australia needs a balanced approach to innovati...

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