The Australian Innovation Ecosystem
The Rudd Labour Coalition government came to power in 2007 and set about making some sweeping changes to the way business and innovation happen in Australia. Their first action was to cancel virtually all assistnce programmes that were then operating to address the innovation ecosystem. The next step was to conduct the 2008 review of Australia's innovation system, undertaken by an government appointed panel that drew members from industry and academia. The panel's report, Venturous Australia - building strength in innovation was used to form the basis of the Government's innovation agenda for the next decade. This was detailed on May 12th 2009, in Powering Ideas: An Innovation Agenda for the 21st Century.
As part of the Powering Ideas agenda the government is issuing an annual Australian Innovation System Report, starting in 2010, on the performance of Australia's national innovation system.
The AAAI was an active contributor to the national review of Australia's innovation system and continues to be an active contributor to the annual Innovation System Reports. The government is eager to report on the activity of Angel investors and the AAAI continues to lobby government to better support the entrepreneurial ecosystem focused on commercialisation of innovation by providing a better regulatory and taxation environment for Angel investors. The AAAI continues to present government with evidence of world best practice in this space in the hope that the politicians will one day wake up and realise that a thriving commercialisation of entrepreneurial ventures is essential to maintaining our standard of living, international competitiveness and securing the economic future of our country.
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