{"id":45863,"date":"2023-10-20T15:46:51","date_gmt":"2023-10-20T15:46:51","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/billson-says-his-next-job-is-to-fix-innovation-startupsmart\/"},"modified":"2023-10-20T15:46:51","modified_gmt":"2023-10-20T15:46:51","slug":"billson-says-his-next-job-is-to-fix-innovation-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/billson-says-his-next-job-is-to-fix-innovation-startupsmart\/","title":{"rendered":"Billson says his next job is to \u201cfix innovation\u201d – StartupSmart"},"content":{"rendered":"
\"\"<\/div>\n

Small business minister Bruce Billson has a new job.<\/p>\n

 <\/p>\n

Off the back of a small business-focused budget, Billson told a round-table of female entrepreneurs and business leaders in Melbourne last night the Prime Minister has a new task for him.<\/p>\n

 <\/p>\n

\u201cI think I\u2019m going to get a tasking from the PM to fix innovation,\u201d Billson said.<\/p>\n

 <\/p>\n

\u201cI\u2019ve been running the argument that all the moving parts are all over the shop and they\u2019re siloed.\u201d<\/p>\n

 <\/p>\n

Billson was referring to measures as varied as commercialisation grants, intellectual property and procurement practices.<\/p>\n

 <\/p>\n

\u2018We\u2019ve got some tax incentives that don\u2019t actually join up with the ecosystem,\u201d Billson said.<\/p>\n

 <\/p>\n

\u201cVenture capitalists come here and go \u2018we\u2019ve had a look but it\u2019s too hard, we\u2019ll go back to Silicon Valley\u2019.\u201d<\/p>\n

 <\/p>\n

Billson said his new assignment has yet to be fleshed out but tackling innovation in the Australian economy is a broad task.<\/p>\n

 <\/p>\n

\u201cI\u2019m trying to get people to think about entrepreneurship, enterprise, economic prospects, the G20 conversation about where the big drivers are going to come from,\u201d he told the room of business owners and industry representatives.<\/p>\n

 <\/p>\n

\u201cAgility in the economy needs to be handled in a way that\u2019s not quite as buttoned down.\u201d<\/p>\n

 <\/p>\n

The room told the minister \u201cfixing innovation\u201d in Australia is not a straightforward task.<\/p>\n

 <\/p>\n

Holly Ransom, chief executive of HRE Global, said developing an over-arching innovation policy would be the one thing she would change for Australian entrepreneurs.<\/p>\n

 <\/p>\n

Ransom lamented that Australia\u2019s digital performance has been classified as \u201cslowly receding\u201d and that there was a steady flow of entrepreneurs and innovative businesses leaving Australia.<\/p>\n

 <\/p>\n

\u201cIt is amazing to me how many Australian entrepreneurs have been poached,\u201d Ransom said, picking out the UK as one of the nations \u201cplaying hard\u201d at attractive innovative businesses.<\/p>\n

 <\/p>\n

\u201cWe\u2019re losing a lot of our entrepreneurial talent.\u201d<\/p>\n

 <\/p>\n

Ransom said the government needs to consider how to attract great international talent to local businesses.<\/p>\n

 <\/p>\n

\u201cWe don\u2019t have the conditions or flexibility around entrepreneurial visa opportunities to keep these great businesses and this great activity in Australia,\u201d she said.<\/p>\n

 <\/p>\n

For others in the room, including Rosie Thomas, co-founder and chief executive of social enterprise Project Rockit and fellow of the School of Social Entrepreneurs, a \u201crisk averse\u201d culture in Australian business works against young entrepreneurs.\u2018<\/p>\n

 <\/p>\n

\u201cOur ability to fail in this country is really difficult because it is set up in such a way that if you fail, you lose everything,\u201d Thomas said.<\/p>\n

 <\/p>\n

\u201cI would say from a young entrepreneur\u2019s perspective, it\u2019s almost like there is this really interesting phase in the life of a young entrepreneur before they kick into their 30s when you have a lot more to lose.\u201d<\/p>\n

 <\/p>\n

\u201cYour responsibilities change \u2026 you have a lot more to lose and so perhaps you are approaching these things a bit more cautiously \u2026 and caution to me is the absolute enemy of innovation.\u201d<\/p>\n

 <\/p>\n

\u201cThe young people that I work with \u2026 they don\u2019t have a lot to lose and so they can throw everything into these businesses.\u201d<\/p>\n

 <\/p>\n

Other women in the room told the minister of the need to streamline government resources so it is easier for potential business owners to find the help they need.<\/p>\n

 <\/p>\n

Many pointed out that Australian schools do not teach entrepreneurship or even present \u201cstarting a business\u201d as a viable option for high school leavers.<\/p>\n

 <\/p>\n

They also called on the nation\u2019s political leaders to develop a longer term vision for Australia\u2019s innovation policy and one that was not contingent on the electoral cycle.<\/p>\n

 <\/p>\n

\u201cI\u2019m sensing from the feng shui of the group that the innovation space needs a fair amount of love, care, work and attention,\u201d Billson said.<\/p>\n

 <\/p>\n

This article was originally published on SmartCompany.<\/p>\n","protected":false},"excerpt":{"rendered":"

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