Importance of Innovation

Design company, Photo by Scott Graham on Unsplash

Bill Ferris AC, Chair of the Innovation and Science Australia board, presented the 2018 Francis Gurry Lecture on the topic Intellectual Property and the Business of Innovation in a pair of events in Melbourne and Sydney.

Ferris discussed the importance of the power of new commercialising new ideas to build the economy: “Innovation is the key to a sustainable Australian prosperity, one less dependent upon the natural resources and the performance of our commodities exports…and one more widely driven by the development and commercialisation of our own ideas and inventiveness. History shows us that in the long term, the places and people that practice innovation, new and better ways of making things and doing things and servicing them at home and abroad—they are the ones creating sustainable jobs and prosperity”.

Design Thinking

Ferris continues, “Innovation drives productivity. Productivity drives GDP growth. GDP growth drives living standards. Fast growing companies that innovate, export and scale are responsible for virtually all new net jobs in the economy”.

Well said!

Design Edge has been involved in numerous highly innovative product developments including a WiFi power control adaptor, medical treatment devices and replaceable dual USB cartridges for power access in public spaces. Innovation is the key!