❓ The Minister for Innovation updates the house on the WA Innovation Summit, highlighting attendance, idea generation, and the aim to bridge the gap between innovators and investors to diversify the WA economy.
AnsweredQoN 528Legislative Assembly
QuestionView source ↗
INNOVATION
SUMMIT
528. Mr M.H. TAYLOR to the Minister
for Innovation:
Can the minister please update the house on the success of
the recent Western Australian Innovation Summit?
SUMMIT
528. Mr M.H. TAYLOR to the Minister
for Innovation:
Can the minister please update the house on the success of
the recent Western Australian Innovation Summit?
AnswerView source ↗
I acknowledge the question from the member for Bateman.
Before I answer the question, I acknowledge the year 11 students from Shenton
College, which is in my electorate, who are sitting in the public gallery.
As members in the house know, in May this year the government
announced a $20 million innovation package. As part of the development of a state
innovation strategy, I announced that a summit would be held at the end of
July. There were 350 applications to attend the summit. We had hoped only 200
would attend, but 250 people attended. It was well attended. I had to cut the
number back to 250. The summit went all day. I also congratulate the
Parliamentary Secretary to the Minister for Innovation, who helped in planning
the summit, and my department.
About 800 ideas emanated from the
participants of the summit. There were participants from academia, the
innovation culture, angel investors and venture capitalists. There were people
from all over the regions—Broome, Geraldton, Dunsborough and Bunbury.
Those 100 people who could not get into the room could participate in the
summit via online access. We also had westlink connections so people could
watch it on video the whole day. If we count all the people who went online,
900 people engaged in the summit. What was the aim of the summit? It was to
make sure that when we develop our innovation strategy, it is informed by the
stakeholders themselves. The innovation strategy, which I will announce in a few
months, will be generated from industry itself. Why are we investing in
innovation? That was the very first question asked by the Leader of the
Opposition. We are doing so to diversify the economy. We already have a wonderful
innovation culture in Western Australia. One of the things that came out of the
conference from all those involved was that the state government does not have
to pick winners. There is already a great investment culture in innovation in Western
Australia, but there is a gap between those people who have the ideas and those
who have the money. It is the valley of death. Most of the nearly 800 ideas
suggest that the government should invest the $20 million over the next four
years in that valley of death area. We need a lot of collaboration to link the
people with the ideas with the people with the money. I hope to report back to
Parliament in two months with the very first state innovation strategy to
support the diversified Western Australian economy, which already has great
ideas, but we can build on those.
Before I answer the question, I acknowledge the year 11 students from Shenton
College, which is in my electorate, who are sitting in the public gallery.
As members in the house know, in May this year the government
announced a $20 million innovation package. As part of the development of a state
innovation strategy, I announced that a summit would be held at the end of
July. There were 350 applications to attend the summit. We had hoped only 200
would attend, but 250 people attended. It was well attended. I had to cut the
number back to 250. The summit went all day. I also congratulate the
Parliamentary Secretary to the Minister for Innovation, who helped in planning
the summit, and my department.
About 800 ideas emanated from the
participants of the summit. There were participants from academia, the
innovation culture, angel investors and venture capitalists. There were people
from all over the regions—Broome, Geraldton, Dunsborough and Bunbury.
Those 100 people who could not get into the room could participate in the
summit via online access. We also had westlink connections so people could
watch it on video the whole day. If we count all the people who went online,
900 people engaged in the summit. What was the aim of the summit? It was to
make sure that when we develop our innovation strategy, it is informed by the
stakeholders themselves. The innovation strategy, which I will announce in a few
months, will be generated from industry itself. Why are we investing in
innovation? That was the very first question asked by the Leader of the
Opposition. We are doing so to diversify the economy. We already have a wonderful
innovation culture in Western Australia. One of the things that came out of the
conference from all those involved was that the state government does not have
to pick winners. There is already a great investment culture in innovation in Western
Australia, but there is a gap between those people who have the ideas and those
who have the money. It is the valley of death. Most of the nearly 800 ideas
suggest that the government should invest the $20 million over the next four
years in that valley of death area. We need a lot of collaboration to link the
people with the ideas with the people with the money. I hope to report back to
Parliament in two months with the very first state innovation strategy to
support the diversified Western Australian economy, which already has great
ideas, but we can build on those.
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