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How Culture and ROI Obsession Stifle Innovation in Australia (And What to Do About It)

Australia has always had a great reputation for delivering cutting edge products and services. Included in our country’s long history of innovation is the cochlear implant, a bionic ear invented by a University of Melbourne professor. Wi-Fi, the backbone of wireless technology, was invented by a top Australian scientist. Even the popular wine cask is an Australian invention.

Innovation has had a tremendous impact on the Australian economy. We’ve enjoyed economic growth for more than 20 years and today Australia has the 9th highest GDP per capita. Lately, however, I couldn’t help but notice that Aussie innovation is starting to lag. Sure, we’re still ahead many countries—but it’s hard to deny that our neighbours in Asia are leaders in their own right. In fact, looking at a list of Australian inventions, you’ll see how the pace of innovation has slowed down significantly this century.

Read the full blog post from Peter Harris featured on ESOMAR Connect