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Innovation Policy

As Australia prepares itself for the national Budget of 2017 it's timely to consider how innovation p
Disruptors Handbook
Innovation Policy
By Disruptors Handbook • Issue #46 • View online
As Australia prepares itself for the national Budget of 2017 it’s timely to consider how innovation policy is faring in this country.
But how do you know when the policy environment is suitable for innovation? It’s when startups are free to develop, when they are supported by investment incentives, and when existing enterprises are keen to try out products produced by those startups. Is Australia fostering innovation right now?  Not so much. 
The Disruptors attended a session held at Fintech incubator, Stone and Chalk last week, as part of the Spark Festival, where Shadow Treasurer, Chris Bowen, and Shadow Minister for the Digital Economy, Ed Husic, spoke about their plans for an innovation economy for Australia.  It was a fantastic event, well attended with a great deal of positivism in the room. 
But there was again, the focus on jobs (rather than work), volume (rather than quality), hard-and-fast political answers (rather than advice). The recipe is wrong. Innovation rhetoric - without institutional change management - is flimsy at best. Policy that focuses on new business models, new opportunities, and know-how within the community of innovators, is the best way to generate a culture of innovation. 
Fortunately, we all have an opportunity to influence polity. Regardless of your political persuasion - or indeed your location in the world - you have a chance to influence innovation policy making, now. Grasp it. 

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