Turnbull's Innovation Policy: What's in it for big business?

Australia's Prime Minister, Malcolm Turnbull, recently announced a $1.1 billion innovation package aimed at creating a globally competitive startup ecosystem in the country. The package provides incentives for entrepreneurs and offers generous tax offsets and reforms to venture capital partnership arrangements. For big businesses, this innovation package offers five potential flow-on opportunities, including the transfer of startup culture, a richer talent pool, direct equity investments, new intellectual property and technologies, and making the threat of disruption real. Australian firms can absorb agile and smart ways of working and engage business-savvy, innovative employees.