Australian start-ups will soon have access to innovation hubs in key international markets as part of the Global Innovation Strategy announced by the Prime Minister today.
Trade and Investment Minister Andrew Robb said the overseas hubs – to be called Landing Pads - would assist emerging Australian companies with their approach to identifying and engaging with international opportunities in overseas markets.
“Landing Pads will be created in key global innovation hotspots including Silicon Valley and Tel Aviv to give Australian entrepreneurs and start-ups a short-term operational base” Mr Robb said.
“A Landing Pad provides for a collaborative workspace and facilities including office space and meeting rooms for up to two months, as well as accelerated access to international business networks, entrepreneurial talent, business development and investment opportunities.
“The Landing Pads will be established by Austrade in the US and Israel, with a further three locations to be identified in the near future. Austrade will also provide access to tailored services including mentoring, business coaching, identifying investors and potential business partners.
“This is a valuable new resource for Australian companies and will help foster the innovation and entrepreneurialism we need to create new jobs and build the industries of the future,” Mr Robb said.
The Global Innovation Strategy is the key international element in the Australian Government’s $1.1 billion National Innovation and Science Agenda, and will support Australia’s ongoing economic diplomacy and science diplomacy efforts globally.
Through the Strategy, Austrade will receive $11.2 million in new funding to establish five Landing Pads and also develop a new annual in-bound innovation forum to foster collaboration and encourage international market experts, entrepreneurial talent and investors into Australia.
A focus on innovation will also be a key theme of Ministerial-led business missions such as the forthcoming Australia-United States Business Week from 16-26 February 2016.
Further information on the Global Innovation Strategy is available at www.innovation.gov.au