EarlyBirds, the innovation ecosystem that brings together early adopters, innovators, and subject matter experts, is helping Australia build up its sovereign innovation capabilities. Readers can find out more about the company and its services by heading over to its website at earlybirds.io.
Australia has already embarked on a journey to greatly enhance its sovereign innovation and industry capabilities. To give an example of its commitment to the future, Australia has rolled out the NBN (National Broadband Network) and has said it would invest a further $4.5 billion to provide access to higher wholesale speeds to almost 75 percent of homes and businesses by 2023. There are several factors driving this agenda such as the current pandemic and the rapidly changing geopolitical environment. However, mostly it is about investing in Australia’s future which is going to see significant challenges in the coming decades. EarlyBirds says that an actionable approach is needed to build Australia’s innovation capabilities to weather the ups and downs of the uncertain future and that the company is well equipped to deliver this approach.
According to the intergenerational report published by the Australian Treasury in 2021, the Australian economy is projected to grow at 2.6% year on year for the next 40 years, compared to the rate of 3.0% which it had sustained over the last 40 years. This is partially attributed to the slowdown in population growth which will reduce the number of working-age people as a share of the population. The slowdown of economic growth is the natural outcome of a developed economy entering the late stage of its expected life cycle. This brings its own challenges as the economy moves away from being manufacturing-focused to being more heavily reliant on its knowledge-based industries.
According to IBIS World, the 10 fastest growing industries in 2021 are rice growing, cotton growing, telehealth, pulse growing, cereal grain wholesaling, online grocery sales, grain growing, online home furnishing, online men’s clothing, and online baby products. Except for the few agricultural industries, most of the industries on the aforementioned list rely on the advances in digital infrastructure to properly function and provide services. It is, therefore, necessary to invest in bolstering the advanced capabilities that are going to make growth industries viable for the future. Telehealth, for example, is heavily dependent on extremely high speed and low latency network infrastructure to enable doctors to make proper diagnoses from great distances.
Australia is looking to increase the current level of self-sufficiency and enhance supply chain protection against potential disruption. It is also trying to build an ability to maintain, employ, sustain and upgrade its national capabilities across all sectors supported with essential skills, technology, intellectual property, financial resources, and infrastructure. EarlyBirds says that it is currently working with some public and private sector organizations that are on the journey to build Australia’s sovereign innovation capabilities.
The EarlyBirds platform and services are specifically designed to help drive public and private sector strategies to build sovereign capabilities across all industry sectors and technology types. The company’s platform can be used to source, identify, and curate local and global innovation capabilities. Currently, EarlyBirds has 100,000 plus innovators in Australia. Innovators are willing to see their innovations implemented in real-world business scenarios by organisations looking to build capabilities.
The EarlyBirds platform holds unique data not only on Australian innovators but also a significant number of global industry capabilities across all sectors. The platform covers over 700 industry themes including their maturity can be mapped locally or globally. The unique capability of the platform allows decision-makers to identify specific gaps in the Australian innovation market. It also enables Australian innovators to be identified, curated, sourced and mentored to work with a public or private sector customers.
The EarlyBirds assisted services, Explorer and Challenger programs, are designed to solve business or technical challenges or for adopting an enterprise approach to these challenges. The programs have been designed with the goal of focusing on building Australian sovereign innovation capabilities. The programs are fast-paced and operate on a time scale of weeks and months instead of years.
SOURCE: Press Advantage [Link]
Early Birds is a B2B platform for Innovators (Startups/Scaleups/Mature), Early Adopter organisations and SME consultants to solve business challenges.
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