Start-ups hail Greg Hunt’s appointment to innovation portfolio

Greg Hunt’s appointment to the innovation portfolio reconfirms it as a government priority, industry says.

Prime Minister Malcolm Turnbull and Greg Hunt held a press conference in Townsville on June 13, 2016 after announcing $1 billion to protect the Great Barrier Reef. Picture: Adam Taylor

Australia’s technology start-ups have reacted with broad optimism to the appointment of former Environment Minister Greg Hunt to the innovation portfolio, after he was announced as Christopher Pyne’s successor.

Mr Hunt will take over as the Minister for Innovation, Industry and Science, a portfolio previously held by Mr Pyne who moves to defence industry.

“It has been a great honour to have served as Minister for Innovation, Industry and Science and I am very proud to have delivered the National Innovation and Science Agenda in December last year,” Mr Pyne said in a statement.

“This groundbreaking, whole of Government agenda, will give Australians greater ability to develop and commercialise their ideas and I look forward to working with my colleagues across the Government to fully implement it in the months ahead.”

Meanwhile Craig Laundy has gone from pub to start-up hub, replacing former Assistant Minister for Innovation Wyatt Roy who lost his Queensland seat of Longman.

Mr Laundy is the son of New South Wales hotel baron Arthur Laundy and his wife Margaret, who own more than 30 hotels. Mr Laundy worked for the family business prior to his election to parliament at the 2013 election.

Dan Tehan has been appointed to the new role of Minister assisting the Prime Minister for Cyber Security.

StartupAUS CEO Alex McCauley told The Australian he thought Greg Hunt was one of the government’s most experienced and senior frontbenchers, so it was encouraging to see him given the innovation portfolio.

“This reconfirms that innovation is a top agenda item for the Turnbull government,” Mr McCauley said.

“It’s also good to see the Assistant Minister position continued, it was new when Wyatt [Roy] took it on. I think all and all, with Turnbull leading innovation and these two guys on board, it sets it up nicely for them to work across the aisle and work with some disparate groups, we can have some hope they’ll certainly try.”

Deep technology incubator ATP Innovations said it welcomed Mr Hunt’s appointment.

“To paraphrase Prime Minister Malcolm Turnbull, it’s an exciting time to be an incubator, and we’re sure Mr Hunt approaches the portfolio with the same sense of anticipation,” ATP Innovation chief Petra Andren said.

“The need for continued momentum in innovation is crucial to the country’s prosperity. Australia must fast track the use of advanced technology in industry to drive sustainable job growth and boost our global competitiveness.”

Ms Andren pointed to PwC research estimating within 20 years the technology start-up sector could represent 4 per cent of Australian GDP or $109 billion, and directly create 540,000 jobs.

Deputy director of the Melbourne Accelerator Program, Dr Clare Harding, said today’s ministry announcement would put some uncertainty of the last few months away.

“MAP looks forward to seeing the Coalition advance its innovation agenda and hopes for concrete measures that will foster a more vibrant entrepreneurial culture across Australia,” Dr Harding said.

Meanwhile Michael Jankie, CEO of Wi-Fi start-up PoweredLocal, said it was heartening to see the Prime Minister pick someone with a broad background for the job.

“Greg comes with broad life experience in everything from the law to socialism, fruit picking to steelworks. I’m pretty happy with this, but I will miss Pyne’s humour,” he said.

Mike Pritchett, CEO and co-founder or video production start-up Shootsta said, “While Greg Hunt’s appointment to the innovation portfolio is curious, it will be far more interesting to see what kind of role his deputy Craig Laundy will play in the new ministry.

“Straight after Wyatt Roy’s defeat, the Turnbull government has appointed yet another minister who won their seat on a knife’s edge to a role that connects the start-up sector to the federal government.”

Mr Pritchett said it would be fascinating to see how closely Mr Laundy attempts to connect with the sector, given the current debate about whether the government’s economic mantra of innovation cut through with voters.

“It’ll be interesting to see whether he will instead keep it at an arms length, which would be a mistake because this initiative is crucial to the nation’s future,” he said.

MoneyPlace CEO Stuart Stoyan said Mr Roy had appeared to be the key driver behind the government’s innovation push, and his loss would be a big one for the technology innovation sector.

“We look forward to seeing him pop up in the private sector in the not-to-distant future,” he said. “We also welcome the appointment of Greg Hunt; we hope he will bring a new energy to the innovation portfolio in its crucial stage of moving beyond rhetoric and into action.

“From a practical perspective we hope the change of Minister won’t slow down any of the initiatives that are already underway and if anything this is an opportunity to get quicker cut through.

“Reports that there is too much focus on innovation and the start-up community clearly have lack perspective on where the real drivers for growth are going to come from over the next 10 years.

“We are at a generational change that means new found investment in technology sectors is an absolute must if Australia is going to continue to grow, improve productivity and stay relevant within the region.”