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. 15.08.2018
    15.08.2018
    by      In
    BHP’s new $4.8 billion South Flank iron ore mine in the Pilbara is expected to create about 2500 jobs during construction and 600 ongoing roles. But local fabricators are quire rightly up in arms about the company’s decision to award the contract for 20,000 tonnes of structural steel work to... Read More
  2. 14.08.2018
    14.08.2018
    by      In
    The former Trade Commissioner of Denmark to Australia and New Zealand, Michael T Hansen has been named General Manager of Nilfisk in Australia.
    Originally from Denmark, Hansen has more than 25 years of experience in business development and sales.
    Over the last 9 years as Trade Commissioner, Hansen... Read More
  3. 14.08.2018
    14.08.2018
    by      In
    World-renowned physicist Dr Cathy Foley has been named CSIRO Chief Scientist with a brief to help champion science, its impact and contribution to the world. Dr Foley is best known for her work developing superconducting devices and systems that have assisted in unearthing over $6 billion in... Read More
  4. 14.08.2018
    14.08.2018
    by      In
    Australian industry is cleaning up its act – both figuratively and literally, with the trend towards more eco-friendly cleaning techniques gathering pace in recent years. And as a company that has pioneered some of the greatest advances in this field, Tennant finds itself in the perfect position to... Read More