The NSW Government has released the NSW Innovation Strategy – Bringing Big Ideas to Life. The Strategy presents the NSW Governments vision to boost innovation in NSW in the government and non-government sectors.

Four points of action are identified through the strategy.

The first point is Government taking a key role in creating an enabling environment for innovation by becoming a leader through promotion and adoption of new products and services. The headline initiatives in this point are

  • The NSW Innovation Concierge service which includes the digital interface ‘Ask NIC’, to help navigate and get access to the right information and people in government.
  • Regulatory Sandboxes where products, services and business models can be tested while maintaining existing protections.
  • The Social Innovation Council, a strategic partnership between NSW Government and NGOs to help foster innovation in the way human services are developed, delivered and measured.

The second point focuses on fostering and leveraging research and development by helping businesses and researchers commercialise. The headline initiatives in this point are

The third point is to equip people with skill for the future through education that meets the future needs of industry. The headline initiatives in this point are

  • Work closely with industry and education providers to develop programs that attract more diverse high-potential students into STEM higher and vocational education, and retain high-performing students in NSW STEM 2020 industries.
  • Develop NSW Future Skills. This body of work will address the preparedness of NSW students for changing economic and workforce in professional, needs and technological changes.
  • Implement the Jobs for the Future strategy, including initiatives for meeting the skills need for tomorrow.
  • Implement Jobs for NSW, a $190 million investment to drive the Premier’s number one priority, creating jobs

The fourth point builds on the state’s existing strengths and reputation to become a globally recognised centre of tech. The headline initiatives in this point are

  • Form Strategic Partnerships with local governments, starting with the City of Sydney.
  • Jobs for NSW will assist startup companies to flourish into the gazelles of tomorrow by setting aside $10 million to grow the state’s network of incubators and accelerators, and $3 million in 2016-17 for direct grants to startups.
  • Launch the website (which includes the Ask NIC digital interface for entrepreneurs to access the NSW Innovation Concierge) which will provide information on the Innovation Strategy and supporting initiatives.

For further information download the NSW Innovation Strategy or visit the new Innovation NSW website. You may also read a review of the NSW Innovation Strategy on StartUp Daily.