Australia’s innovation to commercialisation ecosystem, whether in government, academia or industr,y continues to follow the present-day flawed Silicon Valley model, which over the past twenty years has resulted in a 90%+ company failure rate in commercialisation. Successes in Australia tend to go offshore to the benefit of economies in other jurisdictions.
The panel discussion will begin with an examination and a recognition of the failures of innovation to commercialisation systems over the past twenty years throughout the US, Australia and Silicon Valley: a model that has resulted in a 90% company failure rate and zero to negative returns for a majority of venture funds. Recognizing that the best lessons come from failure, they will examine how the learnings provide a roadmap for the development of effective and sustainable entrepreneurial innovation systems. The panel will finish with a look at a new comprehensive model for entrepreneurial innovation, built from 50 years of experience and a program that has produced a 80%+ success rate.
The fundamental impact of this program is reducing the time to develop successful and sustainable entrepreneurial innovative ecosystems in Australia by a decade or more, saving hundreds of millions of dollars along the way, and producing companies and investment opportunities with significantly enhanced probabilities of success.
Consideration of Transforming Australian Innovation Commercialisation ecosystem to drive 21st Economic Development, Job Creation, and Wealth Generation is critical. Engineers are a pivotal link in this whole process