The Innovation Strategy includes a range of initiatives that will strengthen entrepreneurship and harness NSW’s reputation as an innovation and economic powerhouse.
Entrepreneurs will have the opportunity to pitch transformative ideas to government advisers and industry experts through NSW Innovation Concierge's “Shark Tank” process.
Other key initiatives include:
- creation of a Ministerial Innovation Committee to oversee the implementation of the strategy and encourage agencies to embrace innovation
- $10 million set aside from Jobs for NSW to grow the NSW's network of incubators and accelerators, and $3 million of direct grants for startups in 2016-17.
Minister for Innovation and Better Regulation Victor Dominello said the NSW Government was opening the front door to entrepreneurs to help address the state’s pressing challenges.
“The digital age has transformed technologies, businesses and consumer expectations. It is imperative that government agencies embrace new ideas and ensure that current and future policies reflect the disruptive age in which we live,” he said.
Minister for Industry, Resources and Energy Anthony Roberts said the strategy will ensure NSW is well placed to respond to the future jobs needs of our state.
“It is important that we continue to improve our innovation capabilities, prepare for new technological and economic opportunities and grow more jobs for the people of NSW,” he said.