TECH BOSS CALLS FOR FOCUS ON INNOVATION

Written on the 16 May 2014 by Laura Daquino

TECH BOSS CALLS FOR FOCUS ON INNOVATION CREATIVITY and innovation – two interrelated buzzwords Australia needs to be taking more seriously, according to TechnologyOne (ASX: TNE) CEO Adrian Di Marco (pictured).

More than buzzwords, Di Marco believes they are the foundations of Australia’s future.

Di Marco founded TechnologyOne in 1987 and has grown the company into Australia's largest publicly listed software company, with offices across six countries.

From his perspective, there needs to be a shift in priorities initiated from the top down.

“Few people in politics are saying Australia’s future is in creative and innovative tech-centric industries, which doesn’t make sense when you consider our incredible pool of talent.”

Di Marco says these industries need a push-up, because at the moment they are being weighed down by political discussions about other priorities. He says Australia requires a Silicon Valley-style injection to cultivate this talent.

This isn’t to say Di Marco believes everything from Silicon Valley is superior – he argues these company's often focus on being quick to market at the expense of product quality.

Conversely, he says Silicon Valley has it down pat with its treatment of innovation and creativity. Di Marco believes some of our government dialogue about resources would be better placed in also discussing these.

“Australia undersells itself as a country – you can particularly see that in the political scheme of things.

“Industries like resources are big money-makers, but we need to look at future opportunities in other industries that are also potential gold mines.”

In addition to the broader technology industry, Di Marco highlights biotechnology in particular as another burgeoning market.

“Particularly because of Australia’s biodiversity, there is some very interesting and ground-breaking research happening here that we should be encouraging more.”

Di Marco believes with more encouragement and monetary support, the local technology industry could grow to seriously contend with Silicon Valley and other global technology hubs.

He lends his support to the conversation about the high cost of doing business in Australia, from an entrepreneurial stance.

“The cost of doing business in Australia is ridiculously high,” says Di Marco. “We tax individuals too high which hinders creativity and wealth creation.

“I think we would benefit from a simplified tax system where individuals aren’t taxed more than companies and it’s 38 per cent across the board for both.”

Di Marco says sufficient support is the missing link in Brisbane blooming into the ideal location to start a venture, particularly a research and development centric organisation.

“Brisbane has a fantastic lifestyle, lower cost of living than other east coast cities, and great talent – why isn’t it a hub already?”

“It all comes back to empowering people and allowing them to become more competitive.”

 


Author: Laura Daquino Connect via: Twitter LinkedIn

Latest News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

VITA GROUP SHARES SURGE UPON RESULTS

VITA Group (ASX: VTG), the Brisbane telco retailer tied up with Telstra (ASX: TLS), saw its share price surge 12 p...

SONAND TURNS THE TIDE AT SURFSTITCH

SURFSTITCH (ASX:SRF) has reduced its losses in the first half of FY17 as new CEO Mike Sonand executed his turnaround ...

EUREKA IMPROVES WHILE MANAGEMENT REMAINS UNIMPRESSED

EUREKA Group has collected the gains on its 'buy and build' strategy to achieve a net profit of $6.29 mill...

Related News

KOPLOVITZ GIVES SPRINGBOARD TO AGILE ENTREPRENEURS

FOR Kay Koplovitz, the key to being a successful entrepreneur is an agile mind - one that is always learning and q...

FASHION RETAILER'S TAKEOVER IN DOUBT AS PROFIT CLIMBS

IN the thick of takeover talks, Specialty Fashion Group (ASX: SFH) worked hard to cut costs and see its bottom lin...

HOW TO TAKE CONTROL OF YOUR CAREER THROUGH TRAINING

GIG economy, remote working, and freelance Friday are more than just buzz terms; our workforce is changing, and so...

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter