“Quicklook” Assessment of Greater Adelaide's Assets & Challenges ...

• Strong R
• Full of technology
• Strategic plan
• Collaboration
• Quality of life
Whole city is full of technology. Collaboration is high in this city – seems
higher than other places.
o Send SA technologies to US for MSSTC program
o “Everyone is an inventor in SA” – Barbara E. “We are sort of our own
worst enemy” in an entrepreneurial sense.
o Government has been intervening and suppressed entrepreneurs. In
Jurgen’s area, this is encouraging that the government is trying to help. If
we had the same kind of approach across industry. This innovation model
might apply to everyone
o In US, people start ventures much younger than in SA – failure is not a
big thing. US has a name for it: serial entrepreneurs. This is different for
SA this is a major barrier particularly for existing companies. If an new
path causes a collapse of a company, then finances will be difficult to get
in the future. It is harder to get established companies to get expansion
money than it is for ‘blue sky’ ideas. There is not “patient capital”
available.
o Entrepreneurial atmosphere is here, but there are structural issues in the
culture. We have to find ways to find ongoing benefit (5-15yrs) that there
is a net income streams for jobs coming back to SA.
o Biota: (developed Relenza) – had no understanding of capital
requirements, had to link with Glaxo, 10 yrs to market – but is that income
stream going to come back to SA?? Cannot get to critical size –
companies locate themselves in other cities or even overseas. Need to
have “centers of excellence”.
o Need to think of smart ways to keep the business HERE not developing
and sending overseas. Need some smart ideas on how to do that.
o IC2 – entrepreneurism is taught in the context of social responsibility/civic
entrepreneurship. Almost every single Billionaire that has come out of
Austin has given dollars back and has been very conscious of keeping
jobs in the area. This must be instilled in the culture through the
educational system Concept of shared prosperity.
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