none

PM URGES PYNE TO RELEASE HIS 'INNER REVOLUTIONARY'

13-10-2015
by 
in 

Prime Minister Malcolm Turnbull has encouraged Industry Minister Christopher Pyne to release his "inner revolutionary" when it comes to innovation initiatives – and not to worry about the cost.

Speaking at the launch of a carbon fibre wheel manufacturing plant near Geelong last week, Mr Pyne said Mr Turnbull had encouraged him to be less "orthodox" while developing policies to boost innovation.

Mr Turnbull has put innovation – and the need to embrace technological disruption – at the centre of his government's economic agenda.

The PM is "instinctively and reflexively excited about innovation," Mr Pyne, the Minister for Industry, Innovation and Science said.

"I'm quite an orthodox politician, quite conservative – although that's not always apparent," he said.

"Malcolm said: 'Come up with some ideas to bring together a national innovation agenda.'

"After our first meeting, he said: ‘That's great, but I'd like you to release your inner revolutionary.'

"I said, 'That will cost money.'

"He said: 'Let me worry about the money, you get on with the ideas.'

"That's very exciting for a cabinet minister, I can tell you, when everyone else is being asked to tighten (their) belts and reasonably so."

Mr Pyne said one of his first priorities would be finding ways for start-up companies to use crowd-funding to attract investment.

Australia is a year behind New Zealand in introducing legislation to enable crowd-funding, Mr Pyne said. 

The government would also look at changing the tax act to encourage angel investors to fund start-ups.

Mr Pyne said the government's innovation agenda would contain short, medium and long-term policies to make the Australian economy more creative and agile. 

Related news & editorials

  1. 18.10.2018
    18.10.2018
    by      In
    Amidst global concern about plastic waste in the world’s oceans, it is rather ironic that it is a soft drinks company that is actually doing something about the problem. SodaStream International, which has always taken a different approach to the soft drinks market, is now taking a different... Read More
  2. 16.10.2018
    16.10.2018
    by      In
    The Government has unveiled a $5 million scheme to encourage high-quality graduate engineers to work in Australia’s automotive sector. The Automotive Engineering Graduate Programme aims to increase the level of advanced engineering skills in the sector and is part of the $100 million Advanced... Read More
  3. 15.10.2018
    15.10.2018
    by      In
    Industry Update is delighted to announce that we are expanding our video offerings with a new series of tutorial style videos that perfectly complement our existing library of news style videos.
    In the first series, we are partnering with sensor specialist VEGA to publish eight playlists of videos... Read More
  4. 15.10.2018
    15.10.2018
    by      In
    Kennards Hire is certainly “doing its bit” to help Australia’s drought stricken farmers and their families. The work began with the Kennards branch network throwing itself behind the Buy a Bale initiative, and is now continuing with a key role in the Mega Farm Rescue.
    Kennards Hire team members... Read More