The NSW Government has unveiled its vision for boosting innovation in both the government and non-government sectors, stimulating economic activity and driving shared prosperity for the people of NSW.

The NSW Innovation Strategy was developed after extensive consultation with education and research institutions, the start-up sector, business, non-government organisations (NGOs), peak bodies, and members of the public. Initiatives include:

  • Creation of a Ministerial Innovation Committee to oversee the implementation of the Strategy and encourage agencies to embrace innovation;
  • Launch of a NSW Innovation Concierge (NIC) that will operate as a front door for entrepreneurs wishing to do business with the Government. The NIC will include a “Shark Tank” process in which select entrepreneurs will have the opportunity to pitch transformative ideas to relevant Government advisers and relevant industry experts that seek to address pressing challenges;
  • $10 million set aside from Jobs for NSW to grow the state’s network of incubators and accelerators, and $3 million in 2016-17 for direct grants to start-ups.

Minister for Industry, Resources and Energy Anthony Roberts said the strategy will ensure NSW is well placed to respond to the future job needs of our state.

“A world-class innovation ecosystem demands that we proactively search for opportunities to improve and leverage our strengths; this strategy will increase NSW’s productivity and position our state as a leader for the future,” he said.

Minister for Innovation and Better Regulation Victor Dominello said the strategy will help to embed a culture of innovation in the NSW Government, and streamline the process of innovative businesses and start-ups doing business with government.

“The NSW Innovation Strategy will build on the foundations of innovative projects already underway in this state – like Service NSW and the Data Analytics Centre – to ensure NSW retains its standing as Australia’s economic and innovation powerhouse,” Mr Dominello said.

The Innovation Strategy and initiatives can be found at www.innovation.nsw.gov.au.