When it comes to fostering innovation and entrepreneurship, there is a big role for both governments and corporates. The key is finding ways to work together.
As I mentioned in my previous blog, you can’t build a successful innovation ecosystem without fostering both innovation and entrepreneurship. But how can governments or corporations actually do this? What should they be doing to get the most of each of these activities?
There are three key ways governments can foster the intersection between innovation and entrepreneurship.
Companies can also do a lot to encourage both innovation and entrepreneurialism within their own organizations. As a starting point, corporations need to focus on three critical areas:
When it comes to fostering innovation and entrepreneurship, there is a big role for both governments and corporates. The key is finding ways to work together to foster an ecosystem where both sides of the equation are given a chance to thrive.
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James is the head of KPMG Innovate in Australia. He also actively worked to establish Sydney’s first industry led Fintech hub called Stone & Chalk, and collaborated with industry participants, government and industry associations to co-author a landmark piece of thought leadership into financial services technology startups, titled: “Unlocking the potential: The Fintech opportunity for Sydney”. James is also the key sponsor for elevate61 within KPMG, a rapid growth entrepreneur program delivered in partnership with Advance, to help enterprise B2B startups scale and grow their businesses globally.