Tuesday, 31 March 2015

Government to work with CBR’s small businesses to create innovation opportunities


Chief Minister Andrew Barr has outlined plans to establish a Small Business Research Partnerships Program which will see a proportion of government procurement funds allocated to working with our innovative local businesses.

The program, which was announced as part of the Chief Minister's speech to the Canberra Business Chamber 2015 ‘State of the Territory’ Luncheon, will see a proportion of government procurement funds allocated to working with our innovative local businesses.

The Chief Minister said "The program will allow our smart small businesses to assist government through practical and innovative solutions to common problems that can then be sold to other clients outside of the territory".

"Similar models have been highly successful in the United States. I am confident that smart procurement can stimulate our small business sector and make the ACT a global leader in providing innovative services to government."

Sarah Pearson, Chief Executive of the CBR Innovation Network, says government and business will benefit from this initiative.

“Programs like this will help the ACT government get solutions that meet their specific needs, typically at lower cost than off-the-shelf options,” Dr Pearson said.

“This is crucial in helping our small businesses and entrepreneurs work with government, building their businesses and building Canberra’s reputation as a place that solves government challenges and exports those solutions.”

This initiative will be part of the government’s next Business Development Strategy. The Chief Minister recently reported to the Assembly that all 26 Business Development targets set in the previous strategy have been achieved. This included measures to attract foreign investment and skilled migrants, grow our export capabilities, partner with our tertiary education institutions to commercialise research and maximise the value of the visitor economy.

The Chief Minister said "My speech today also covered how the new Local Industry Advocate will work exclusively in the interests of the ACT business community to ensure work that can and should be done by local businesses stays in the ACT- building capability and economic activity in our city."

"The Advocate’s first job will be to work with local industry to identify improvements to government procurement processes. While the government will always get the best value for money for the community, it is important to do this in a way that creates opportunity for local business and continues the government’s renewal agenda."

"My address outlined how going forward, the ACT Government will continue to drive greater economic self-reliance through investment in projects like Capital Metro, which is vital for economic activity and job creation in Canberra. The project will benefit the whole city by employing 3500 people in its construction phase alone, revitalising the Northbourne corridor and taking thousands of cars out of city traffic and car parks" said the Chief Minister.

"I also reiterated how education is critical to the future of investment and jobs in our city. Our higher education and trades training institutions are employers, exporters and investors, and they must flourish for our city’s economy to be strong. That’s why I have recently signed a Statement of Strategic Intent with the University of Canberra, outlining our shared commitment to development and growth of the University’s Bruce campus."

"This month the Government also passed the first of a suite of reforms in the Legislative Assembly that will enable $1 billion in investment, development, expansion and job creation on the UC campus and in the surrounding community.

4 comments:

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  2. Innovation has now gotten to be one of the key components inside of a business.As competition for customers and resources turn out to be more and more serious the capacity of a company to innovate is frequently more important than some other component in its sustainability.Innovation hence needs to transcend all zones of operation - production,finance,planning,human resource management and marketing.However in the small business huge numbers of these functions are did by the owner manager and in this way regularly prompts an absence of acknowledgment of the procedures expected to actualize innovation inside of the small business.
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  3. A great post on innovation opportunities. Thanks. Rose Fanta

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