{"id":44273,"date":"2023-10-20T15:34:46","date_gmt":"2023-10-20T15:34:46","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/lemonade-stand-day-policy-hack-winners-pithy-plan-to-introduce-entrepreneurship-to-schools-startupsmart\/"},"modified":"2023-10-20T15:34:46","modified_gmt":"2023-10-20T15:34:46","slug":"lemonade-stand-day-policy-hack-winners-pithy-plan-to-introduce-entrepreneurship-to-schools-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/lemonade-stand-day-policy-hack-winners-pithy-plan-to-introduce-entrepreneurship-to-schools-startupsmart\/","title":{"rendered":"Lemonade Stand Day: Policy Hack winner\u2019s pithy plan to introduce entrepreneurship to schools – StartupSmart"},"content":{"rendered":"
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An education initiative aiming to instil a culture of entrepreneurialism in young Australians has been crowned the best idea at assistant minister for innovation Wyatt Roy\u2019s inaugural Policy Hack over the weekend.<\/p>\n

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Ten innovation ideas centring on culture, capital, co-operation and talent were pitched by teams of founders, investors, CEOs and members of the public sector, who had five hours beforehand to prepare.<\/p>\n

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After a three-minute pitch and two minutes of questions, the DICE Kids initiative was crowned the winning by a judging panel including Roy, Shark Tank<\/i> judge Steve Baxter and CSIRO CEO Larry Marshall.<\/p>\n

 <\/p>\n

The winning team was led by Erin Watson-Lynn, a member of Australia\u2019s G20 Youth Summit delegate and Generate Worldwide founder, who tells StartupSmart<\/i> the core idea is to \u201cembed entrepreneurship into the education system\u201d.<\/p>\n

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\u201cWe realised this was already in the education system at all levels, but the problem is in drawing it out of the curriculum and giving the teachers tools to do that,\u201d Watson-Lynn says.<\/p>\n

 <\/p>\n

\u201cOnce we realised what the actual problem was it was about focusing on what was achievable on the day and how the government can help enable that. It was a pitch for a campaign we could get off the ground.\u201d<\/p>\n

 <\/p>\n

From last week: Queensland makes coding and robotics compulsory in schools<\/i><\/a><\/p>\n

 <\/p>\n

The first tool would be a Lemonade Day in schools across the country \u2013 a program where primary school-aged children would go through all the steps of starting a small business.<\/p>\n

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\u201cThey\u2019ll set up a lemonade stand, come up with a business strategy, design a marketing plan and execute the business, all the while learning about the different aspects of learning and operating a business,\u201d Watson-Lynn says.<\/p>\n

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The group put a cost on the program of $2 for each of the targeted 180,000 children for a total of $360,000, referred to by Baxter as \u201cpocket change\u201d.<\/p>\n

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The idea received very positive feedback from the room, Watson-Lynn says, with some potential partners and investors already emerging. The CSIRO will already be supporting the idea through the schools program, bringing in 60 corporate organisations and schools.<\/p>\n

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Now it\u2019s about ensuring the idea actually gets off the ground, Watson-Lynne says.<\/p>\n

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\u201cWe want to hold everyone accountable and make sure they keep their word,\u201d she says.<\/p>\n

 <\/p>\n

\u201cEveryone wants to stay involved. It was inspiring that these people want to be involved \u2013 we\u2019ve got a lot of talent and we want to make sure this happens.<\/p>\n

 <\/p>\n

\u201cAll the different stakeholders need to be involved, that\u2019s how you make change.\u201d<\/p>\n

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Nine other ideas focusing on fostering innovation and startups in Australia were pitched at the Policy Hack, and they\u2019ll now be collated by StartupAUS into a single package to be taken back to Canberra by Roy.<\/p>\n

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Getting corporates to work with startups<\/b><\/p>\n

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Dubbed by StartupWA director Justin Strharsky as the \u201cboring topic\u201d, the first pitch suggested implementing tax incentives for large established companies that work with startup accelerators in some way, whether through funding or coming on as a corporate partner.<\/p>\n

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\u201cOur industries are not doing a good job of interacting with startups, and startups are not paying attention to industries,\u201d Strharsky said.<\/p>\n

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Bringing innovation to disadvantaged communities<\/b><\/p>\n

Anne-Marie <\/b>Elias and her team suggested a \u2018sustainable communities academy\u2019 that would aim to bring entrepreneurialism and innovation to the \u201cmost disadvantaged communities in Australia\u201d. Elias focused on a lack of technology and digital skills in these communities, and the need to foster entrepreneurial capacities or risk \u201cfurther perpetuating the cycle of disadvantage\u201d.<\/p>\n

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The idea is based on a nationally co-ordinated framework to be delivered with existing infrastructure in these disadvantaged communities around Australia, to be micro-funded from the community and crowdfunding.<\/p>\n

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The rock star initiative<\/b><\/p>\n

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Team leaders Nicole Williamson and Julia Claven began their pitch by pointing to a series of confronting figures on diversity in startups \u2013 96% of investors are male, 4% of funded businesses are female, and there\u2019s only one female leader on the StartupAUS board.<\/p>\n

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To help close this gap, the team suggested a \u2018rock star initiative\u2019 with three main routes: champions, pipeline and culture.<\/p>\n

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A key policy was the establishment of a $100 million co-investment fund which would match any funding given to a business with a female founder, similar to what was done recently in the UK. It also suggested using some of the men in the room as \u201cchampions of change\u201d to promote action on diversity.<\/p>\n

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An IP Bank regime<\/b><\/p>\n

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With the aim of keeping successful Australian businesses and founders in the country, the IP Bank regime would encourage the use of intellectual property by Australian businesses.<\/p>\n

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Tracy Murray from Griffithhack discussed the \u2018brain drain\u2019 of startups relocating overseas and how this is \u201cdiminishing the innovation ecosystem\u201d in Australia.<\/p>\n

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The IP bank was pitched as a way to protect businesseses\u2019 IP and give them more of an incentive to stay here rather than move abroad.<\/p>\n

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\u201cInnovation is undervalued in Australia compared to other countries,\u201d Murray said.<\/p>\n

\u201cAustralia must invest to make change \u2013 doing nothing is not an option.\u201d<\/p>\n

Creating investor-ready businesses<\/b><\/p>\n

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BlueChilli\u2019s Sebastien Eckersley-Maslin wants to \u201cput a rocket under\u201d Australia\u2019s accelerators in order to create more investor-ready businesses.<\/p>\n

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His team proposed a raft of ideas to work with the existing infrastructure in order to get talented people to work with the accelerators, more funding, and improve the culture of investing, with policies including matched-funding and capital gains tax exemptions for startup investors.<\/p>\n

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Commercialising ideas<\/b><\/p>\n

<\/b><\/p>\n

Dr Tony Peacock\u2019s pitch focused on changing Australia\u2019s academic culture and helping the process of moving IP from universities to the general community.<\/p>\n

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\u201cGetting academics to change is like herding cats,\u201d Peacock said.<\/p>\n

\u201cYou can actually move them by moving the food bowl.\u201d<\/p>\n

 <\/p>\n

The idea would incentivise and reward universities that engaged with the industry by increasing funding and creating a competitive rankings system, to the tune of $10 million.<\/p>\n

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Roy spoke highly of the concept of \u201cshifting the goalposts\u201d and said he had already discussed how to do this with minister for industry, innovation and science Christopher Pyne.<\/p>\n

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Opening up government data<\/b><\/p>\n

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NCITA CEO Adrian Turner pitched a three-pronged approach to make government procurement and data more open and innovative, including changing the rules of engagement and implementing incentives for ecosystem participation.<\/p>\n

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\u201cIf Australia does this it\u2019ll be a leader in the world,\u201d Turner said. \u201cWe should be thinking of all of government as a platform.\u201d<\/p>\n

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Global landing pads for Australian startups<\/b><\/p>\n

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It\u2019s \u201cvery difficult\u201d for Australian startups to establish a presence in a new country, Spike Innovation director Colin Kinner says, and the government can help with this process.<\/p>\n

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\u201cAt the moment it\u2019s the blind leading the blind,\u201d Kinner said.<\/p>\n

\u201cThere\u2019s no established startup capacity to help when they arrive.\u201d<\/p>\n

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So his team proposed a network of \u2018landing pads\u2019 in startup hotspots like Silicon Valley and New York at a cost of $450,000 each annually. It was a clear and actionable proposal, with Kinner saying it could be up and running by January next year.<\/p>\n

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Expanding the NEIS to foster startups<\/b><\/p>\n

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Pitched by Nicola Hazell from the Foundation for Young Australians, the final idea focused on expanding the New Enterprise Incentive Scheme to create a \u201cnew way of backing startups\u201d.<\/p>\n

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\u201cWe\u2019re all here because we know the startup ecosystem in Australia needs to grow to create the industries that we need in Australia,\u201d Hazell said.<\/p>\n

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\u201cWe\u2019re not pulling our weight.\u201d<\/p>\n

 <\/p>\n

The team recommended making the NEIS \u201c21st<\/sup> century ready\u201d by including a startup incentive scheme to help people go from unemployment to being founders and business owners.<\/p>\n

 <\/p>\n

Want to grow your business with Instagram?<\/i> StartupSmart School can help<\/i><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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