And now we have the pleasure of hearing from the Assistant Minister for Innovation, Wyatt Roy, who is going to formally launch SourceIP. Now anyone who reads the media will know that Assistant Minister Roy is a passionate advocate for innovation and commercialisation and has been playing a key role in developing the government’s upcoming innovation statement. His portfolio responsibilities include intellectual property, he’s responsible for IPAustralia and he’s a keen supporter of measures to boost better access by business to the research sector. It’s therefore my great pleasure to welcome him to the stage to launch SourceIP.
Wyatt Roy MP:
Well thank you so much Patricia and it is fantastic to be here. I think when launching this very exciting initiative the best way to start is to quote the Prime Minister. The Prime Minister makes the point that this is the most exciting tie in human history and this is the most exciting time to be an Australian. And the reason Malcolm says that is because we live in a rapidly changing world. We are seeing globalisation shrink our globe at a rate that we couldn’t imagine only a few short years ago and we’re seeing technology disruption change our traditional industries, our small and medium enterprises, again at a rate that we couldn’t imagine only a few short years ago. And it is natural for us as human beings to respond to change with fear, to have our policy responses based on fear.
But the Prime Minster is adamant that we will not allow fear to define our response to the changing world. Fear will not define our response to an age of technology disruption. Instead we are going to embrace that change, we are going to make that change our friend and we are going to harness the opportunities that come from that. And I think if we achieve that, if we make that change our friend, then we can drive the future prosperity that our country needs. We have had a remarkable nearly a quarter of a century of uninterrupted economic growth in this country, completely remarkable by any global standard and that’s been driven by economic reform, by productivity but particularly the resources boom, and that has driven this 25 years of economic growth, increasing living standards, rising job opportunities.
But if we’re going to continue that trajectory then we need to embrace innovation in everything we do. Our small and medium enterprises that are the great employers in our economy need to embrace innovation in everything that they do. And I think that we have an enormous opportunity to do that as a country and this initiative is an important plank in that conversation, in that process. I think we already have that mindset as a country in some ways because when it comes to resources the thing that has driven this prosperity, we’ve always been prepared to go out and drill holes in the ground looking for the next resource deposit, not with the expectation that every hole we drill we’ll find the next iron ore mine or the next coal mine with the ten x return but with the expectation that when we do find one of those great connections, one of those great deposits of resources we’ll expect a ten x return and in many ways we have to think about innovation in the same way.
We have to think about the collaboration between our great innovators, our great entrepreneurs, the government, our small and medium enterprises as that exploration, as that preparedness to try new things and to take on risk. And I think SourceIP is a very exciting development where we are creating the connection between these incredible publicly funded researches organisations, our universities, CSIRO, Data61, the incredible organisations that we have here and the private sector.
And we don’t know what will come from that collaboration, we don’t know exactly what that will achieve but we know that if we are prepared to take hold of that opportunity that there will be some very exciting developments and we will be able to drive innovation in our very successful elements of our economy. And for me I think this is such an exciting development, congratulations to everyone who’s been part of this, particularly the team at IPAustralia, to bring this together at the speed and rate that they did is incredibly exciting. I was a little bit nervous I must admit when I was told I was launching a government online matchmaking service.
I thought we are being very innovative in what we are trying to do now.
But I guess if it’s been successful in the broader society it must be successful when it comes to innovation and collaboration. Congratulations everyone involved and with that I officially declare SourceIP launched, cheers.