People looking to move to Australia to start their own business can now access a new online tool developed by the Government to shows areas where innovative activities and business creation are taking place.
The new National Innovation Map can be used to see how various regions in Australia compare in the innovation stakes, according to Karen Andrews, the Parliamentary Secretary to the Minister for Industry and Science.
The National Innovation Map was created to support a Department of Industry and Science research paper on the Geography of innovative entrepreneurship, and in advance of the Department’s 2015 Australian Innovation System Report.
“Innovation and entrepreneurship often go hand in hand. Innovative business activity is influenced by location and proximity to other innovative activity,” said Andrews.
She added that it can be used by business owners to see areas of high innovation.
It reveals details including new business entry, dollars spent on research and development, patenting activity, and trademarking activity in a particular area.
“Not surprisingly, the Geography of innovative entrepreneurship report found that these activities are generally concentrated in the major metropolitan areas of Australia, particularly in Sydney,” says Andrews. “But the data shows there are some exceptional regions of innovative entrepreneurship outside metropolitan Australia, including the Sunshine Coast in Queensland and the Southern Highlands in New South Wales.”
In an increasingly competitive global economy, Austrlia is trying to attract talented young men and women from overseas, encouraging them to set up business in the country which will then grow, creating employment, wealth and tax revenues.
There is also help and advice for students from overseas who want to stay in Australia after graduation and start their own business in terms of start up finance and visas.