Australia, with its significant resources and talent, has the potential to become a global leader in deep tech innovation. The Federal Government’s ‘Future Made in Australia’ policy marks a positive step towards nurturing local innovation and fostering emerging technologies. However, shifting the nation’s economy from a reliance on services and resources to one driven by manufacturing, science, and engineering requires coordinated efforts from investors, industry leaders, policymakers, and innovators.
Australia’s homegrown talent is as formidable as that found in Israel or Silicon Valley, evidenced by successes like Google Maps and cochlear implants. The 23 startups showcased at Tech23 demonstrate groundbreaking advancements in various sectors, including food systems, urban spaces, and health. To truly harness this potential, a multi-sectoral and systems-based approach is necessary, mirroring the collaborative response seen during the COVID-19 pandemic. This includes breaking down silos and ensuring that government procurement and investment support Australian innovations. The future of deep tech relies on startups that balance focused problem-solving with strategic foresight, influencing future trends and conditions for their technologies.
To delve deeper into these insights and explore how Australia can lead the deep tech revolution, read the full article in The Startup Daily.
