What about the human factor in innovation?
This transcript is for the video What about the human factor in innovation?
The human factor is key. What it’s really talking about is the people who innovate, the people who invent, the people create, the environment for new things to happen.
Again here Australia has its strengths. There is a recent survey done that will show the best cities in the world to create a new business and Melbourne and Sydney are in the top 20.
Now, where does that come from? Well it comes from our innovation inputs, it comes from highly educated people, it comes from, which the 2014 Global Innovation Index notes, the high rates of inbound migration, highly qualified people who are here, highly qualified people who have come here and who want to do new things.
It come from an ease of starting a business, it comes from having the right infrastructure and the right structures around in the economy for people to do things. And that’s very much what policy and regulation is about. And in Australia it seems to be working quite well. It’s not perfect, but nowhere is it perfect, but we’ve got the conditions than can create a really strong business sector and we’ve got a good economy that can deliver that sought of outcomes.