Launching the next stage of the Australia-US relationship, Prime Minister Tony Abbott announced the opening of a forum on the Hub Busters, a joint venture between the Federal Government and US-based startup accelerator, InnoCentury.
The forum, entitled Australia-U.S. Hub Busting, is expected to be a key platform for the government and the industry to talk about key issues such as the role of government and competition in the hub sector, the role government should play in helping to accelerate innovation, and the need to increase investment in the sector.
Key points:InnoCenturys founder and CEO Tony Lee said he was “extremely excited” to be the first person to address the forumThe Prime Minister says the government will build on the “hub busting” achievements of the past yearThe Hub Buster event will be hosted by the Government and Industry Innovation Fund (GIIF)The event will take place on Saturday and Sunday, February 24 and 25, and will be moderated by Professor Richard Thorne, former head of the US National Science Foundation.
The Prime Minster said the forum was the next step in a “long, productive relationship” with the U.S., and said it would be a forum “to highlight the hub busting achievements of recent years”.
“Today, I am delighted to announce the opening this year of the first forum on Australia-America’s hub busters, which will be the next instalment of the Hub Buster process,” he said.
“The first forum was launched in June 2014 to help stimulate the sector and the Government will be able to build on those achievements and to encourage more private sector investment in a sector that is already valued at $3.6 billion a year in Australian dollars.”
Mr Lee said the government was “very enthusiastic” to host the forum.
“This is going to be an opportunity to showcase the hub-busting achievements of this country, and I think that the Government’s commitment to the sector is well worth the effort,” he told The Australian Financial Review.
“Australia has seen a significant shift in the way that we approach our government, the way we approach the economy and the way in which we engage with other nations.”
There is a growing appreciation of the role that government can play in promoting innovation in our economy and supporting the development of the private sector.
“He said the Government had made progress in recent years in providing financial support for entrepreneurs, particularly in areas such as education and infrastructure, and was “looking forward to seeing how the sector progresses in the coming months”.”
The Australian economy is now growing at its fastest pace since the Great Recession, and we know that innovation and competition are key to sustaining that momentum,” he added.”
We are also seeing that Australian businesses are leading the world in the global race to create new jobs, and that is something we are looking forward to sharing with our American counterparts.
“The Hub Buster event will focus on the following topics:Technology and innovationThe role of Government and the private sectors in the HubBusters sectorThe role and role of governments in encouraging the private and public sectors to collaborateInnovations and the role and impact of government policiesThe role the Government can play to encourage private and non-government partners to collaborateThe role that governments can play as private sector innovatorsInnovators and entrepreneursThe role for government in encouraging private and government partners to innovate and collaborateWith Professor Thorne the forum will also include panel discussions on topics such as:The HubBuster project, which is run by the National Innovation Forum (NIF), has received $1.4 billion in funding and is one of the largest venture capital investments in Australia.
Innovator Andrew Lacey, a partner at Innocentury, said the Hub-Buster forum was a first step to building on the success of the program that began with the launch of the Australian Hub Hub Booting program in 2016.”
As the Hubbuster program grew from a launch event in April to a successful funding campaign in May and June this year, we saw the momentum and support the program has enjoyed from all quarters,” he explained.”
So, I’m really excited to be able in the next few days to share with our international community what we’re working on and how we’re using that funding to build the next generation of entrepreneurs and innovators.
“Mr Lacey said the next Hub Buster forum would focus on “how to build and support a sector in which the Government has a significant role”.”
We have seen the success and success of HubBusting in many different countries around the world, and in our own country, the Australian hub is seeing the largest growth in a generation,” he noted.”
It’s important that the forum be a good forum to highlight the role the Federal government can be playing in helping accelerate innovation and support for the private