Highlights from the research:

• Samsung beats Apple as the world’s most innovative company, with the highest number of new patents in 2022 (8,513).
• This is despite Apple having spent the most on intangible assets out of all companies ($2.2 Trillion).
• Intel invested 31.4% ($16.9 billion) of their $54 billion revenue – the most out of all companies.
• The Electronics sector is the most frequent in the top 10 – 3 out of 10 companies dominate.
• E-commerce giant, Amazon, has invested the most in R&D in the last year ($81 billion)

The Top 10 Most Innovative Companies

Please see the full dataset here.   (Dataset sourced from Harrity and Seeking Alpha, October 25, 2023)

Consumer Electronic companies are the most innovative

The Dataset used can reveal that Samsung is the most innovative company, with an innovation score of 9.25/10. The consumer electronics giant, known for manufacturing televisions, mobile phones and audio equipment issued 8,513 new patents in 2022, which is the most out of all companies in the data. With the new Samsung AI technology, which will be featured in their Galaxy S24 smartphone due for release in 20242, it is no surprise to see the electronic giants rank so high. suggesting that there are new technologies on the horizon.

Competitor Apple is the second-most innovative company, with an innovation score of 9.03/10. Apple invested over $29 billion on R&D in the past year, which is the third-highest out of companies in the top 10, and they reported over a whopping $2.29 Trillion in intangible assets in 2022, also ranking first.  Apple is also investing in new materials, clean electricity and low-carbon shipping with the aim of making all of its products carbon-neutral by 20303.

In third place with a score of 8.33/10 is IT giant IBM, known for its hybrid cloud and AI solutions. Registering 4,743 patents last year, half that of Samsung in first place, they have surprisingly lost their 29-year reign as the patent leader in the US4. Despite this, IBM has shifted their focus to high-quality, high-impact innovation in the hybrid cloud, data and AI, automation, security, semiconductors, and quantum computing areas.

Johnson & Johnson is fourth, scoring 8.23/10 in the innovation index. They have the second-highest number of intangible assets ($46.24 billion) which is to be expected when they trademark brands such as Neutrogena, Listerine and Tylenol. The health giants spent $14.78 billion on R&D last year, and they recently met with China and Japan as part of their plans to transform healthcare innovation in those countries through new therapies and AI technologies5.

Amazon invests the most in R&D

In joint sixth place with Microsoft with an innovation score of 8.12/10, is Amazon, who spent $81.7 billion on R&D in 2022, the most out of all companies analyzed and is 65% more than Apple and Samsung combined. This isn’t shocking considering their presence in both the retail and technology sectors. Just recently they rolled out a new AI-powered Image Generator6 for advertisers, which will allow for better ad performance, propelling themselves further into the AI market.

The post Can you name the world’s top 10 most innovative companies? appeared first on Small Business Connections.

What are patents?

A patent provides inventors with exclusive rights to their inventions for a specific period, typically 20 years from the date of filing. In return for sharing their innovation with the public, patent holders gain the right to exclude others from making, using, or selling their invention without permission.

Patent protection is valuable for a small business owner looking to protect their innovative ideas and gain a competitive edge in the market. Securing a patent can safeguard an invention, attract investors, and potentially pave the way for future growth. Navigating the patent application process can be complex, so it can be important to seek legal advice and ensure you thoroughly understand the requirements and timelines.

What does a patent protect?

You can use a patent to protect devices, substances, methods or processes. To be granted a patent, your invention must be:

• New: It must not be known to the public.

• Useful: It can be made or used in an industry.
• Inventive: It must be different enough from what already exists.

• A suitable subject matter, known as ‘a manner of manufacture’.

Why are patents important for a small business?

• Protection: Patents provide a strong shield against competitors, preventing them from copying, using, or selling your invention without your consent.
• Competitive edge: Having a patent can give your small business a competitive advantage by offering a unique product or technology that others can’t replicate.
• Attracting investors: Patents can make your business more attractive to investors, as they demonstrate your commitment to innovation and your potential for growth.

The patent application process

The process of obtaining a patent can be quite intricate, but here’s a simplified breakdown:

• Idea development: Start by brainstorming, researching, and developing your invention. Make sure it’s truly new and useful.
• Patent search: Conduct a patent search to ensure your idea hasn’t already been patented. This step is vital to save time and resources. See IP Australia’s page on searching patents for more information – How To Search Existing Patents | IP Australia.
• Prepare and file an application: You’ll need to prepare a detailed patent application that includes a thorough description of your invention, how it works, and why it’s unique. You can file your application with the patent office in your country, such as IP Australia in Australia.
• Examination: Your application will be examined by a patent office examiner to determine if it meets the criteria for patentability.
• Grant or rejection: If your application is accepted, you’ll be granted a patent, and your invention will be protected. If it’s rejected, you can appeal or make amendments to address any issues raised.
• Maintenance: After obtaining a patent, you’ll need to pay renewal fees and comply with other requirements to keep your patent in force.

Preparing your application

If you’re trying to decide if you should go ahead with a patent, you could file a provisional application in the meantime. It doesn’t provide you with protection yet, but it gives you 12 months to decide whether to go ahead with a standard patent application.

If you decide to go ahead with an application, you will need to write a specification. A specification describes what your invention is and how it works in detail. There are strict requirements to follow – for more information and some templates to help you, see How To Write A Specification | IP Australia. If you’re a small to medium business, you could also be eligible to use IP Australia’s free patent case manager service.

If you’d like legal advice or hands-on help with your application, you should consider engaging a patent attorney.

Key points to remember

• Timing is crucial: Patents are time-sensitive, so it’s essential to apply as soon as possible after inventing something new and keep it a secret until you apply.
• Keep records: Maintain thorough records of your invention’s development, including dates, drawings, and notes. This documentation can be valuable in the patent application process.
• Seek legal advice: Consulting with a patent attorney or agent can help you navigate the complexities of the patent system and increase your chances of success.
• International protection: If you plan to sell your invention internationally, consider seeking patent protection in other countries to safeguard your rights in foreign markets.

So, if you’ve got a brilliant idea that could change the game for your business, consider patent protection. Visit the IP Australia website to understand how a patent can support your business’ success, and how to apply for one.

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Minister for Women Natalie Hutchins said the government is committed to increasing women’s participation in male-dominated industries, and is seeking feedback on a discussion paper that outlines a number of key areas where action is needed.

“Increasing women’s participation in male-dominated industries, especially in trade-based and leadership roles, will help women fully contribute to our state’s economy, towards a more equal state,” Hutchins said.

“We’re supporting these industries to not only address barriers, attract and retain more women employees, but also provide opportunities for women to thrive.”

The discussion paper identifies a number of key areas where action is needed, including:

• Creating a more inclusive and supportive workplace culture
• Removing barriers to entry and advancement
• Promoting flexible work arrangements

The discussion paper also seeks views on specific initiatives that could be implemented to boost women’s participation and advancement in manufacturing and energy, such as:

• Mentoring and sponsorship programs
• Leadership development programs
• Targeted recruitment programs
• Industry-specific campaigns

Hutchins said she is looking forward to hearing from the manufacturing and energy sectors about how the government can support more women to carve successful careers in these industries.

“I encourage employers and community members to share their ideas on how we can create a more inclusive and supportive workplace culture, remove barriers to entry and advancement, and promote flexible work arrangements,” she said.

How SMBs can boost women’s participation and advancement

There are a number of things that SMBs can do to boost women’s participation and advancement in manufacturing and energy industries, including:

• Review and update recruitment and promotion processes: Make sure that your recruitment and promotion processes are fair and unbiased. This could involve using gender-neutral language, using blind resumes, and having multiple interviewers.
• Provide training on unconscious bias: Unconscious bias can influence hiring and promotion decisions without us even realizing it. Provide training to your staff on unconscious bias to help them identify and address their own biases.
• Create a more inclusive workplace culture: Promote gender equality and diversity at all levels of your organization. This could involve creating a diversity and inclusion council, setting targets for women’s representation in leadership roles, and organizing events and activities that promote gender equality.
• Provide opportunities for women to develop their skills and knowledge: Encourage women to take up training and professional development opportunities. This could involve providing financial assistance, or allowing women to take time off work to attend training courses.
• Offer flexible work arrangements: Flexible work arrangements can help women to balance their work and personal lives. This could include part-time work, job sharing, and telecommuting.

Also read: Australian Innovation Competition: five winners to receive $30,000 each

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Winners EarFlo, Innofocus, Ripen Tech, Vaulta and Zondii will each receive a $30,000 Innovation Prize from Industry Growth Centre METS Ignited to help fund their innovation, build their business, and ultimately benefit Australia, and potentially the world, by improving effectiveness and efficiency of their sectors. Many of the winners and finalists have the potential to address problems across multiple industry sectors.

“The competition has shown again the creative and technological talent locally and the opportunity for Australia to become a world leader in innovation across so many areas. There is an opportunity at a state and national level to overcome the challenges of commercialisation, access to investment and finding a platform to showcase this type of exciting innovation,” said Alex Blood, Head Judge for the Australian Innovation Competition.

METS Ignited’s Kylah Morrison who led the competition was delighted with the number of applications. “We were extremely impressed with the quality and quantity of applications. The competition attracted a wide range of applications from all over the country,” she said.

Health, energy, agriculture, manufacturing, software, social, environmental, resources and industrial applications were represented by over 180 entries submitted to the competition, with the winners selected based on aggregate scores from the seven judges.

EarFlo, a medical device disguised as a ‘sippy cup’, empowers parents to treat young children suffering from chronic ear infections. It can restore hearing faster, thereby helping to prevent cognitive and developmental delays that can result from prolonged hearing loss. “Winning the Australian Innovation Competition will accelerate development so that Aussie kids can access this treatment as soon as possible,” said Intan Oldakowska, CEO of EarFlo.

Innofocus has developed a high-performance flexible film that can cool down any covered object without consuming electricity, with the nanostructure on its surface allowing objects to radiate heat completely into outer space while completely avoiding solar heat absorption in the visible and infrared. Use cases in industries such as agriculture, transportation and energy storage have the potential to significantly reduce carbon footprints.

Ripen Tech has developed an IoT device that weighs fruit in real-time while it is still on the plant, removing the need for wastage and inaccurate measures through visual estimation. This will replace the need to use traditional methods that are inaccurate and lead to common downstream issues such as product rejections, helping growers avoid fruit loss by offering highly accurate yield impacts before harvest.

Vaulta has developed an Australian made, long duration battery storage product using advanced composite materials and a smart, streamlined design for its casing that condenses multiple functions into fewer parts. Vaulta’s simple no-weld design means modules can be easily assembled and disassembled, while cells can be reused and recycled, reducing waste and, crucially, giving batteries a second life.

Zondii’s simple handheld device replaces expensive on-farm legacy technology that woolgrowers have used to-date to class wool. It helps them save time and money on mustering labour and with instant micron measurement, makes on-farm breeding and classing decisions more efficient and effective.

“These companies are not just creating products; they are shaping the future and driving positive change. Their success stories inspire us all to think beyond boundaries and reimagine what’s possible. Together, they exemplify the innovation and ingenuity that Australia brings to the world stage,” said judge Les Delaforce, Head of First Nations Entrepreneurship at Minderoo Foundation and board director of Startup WA.

Early-stage companies or startups were well-represented in the entry pool – of the entries received, three quarters were submitted by companies, with 86 percent of these entrants having an annual turnover of less than $2 million. More than half of the companies who entered had one to five employees at 63 percent.

“Australia isn’t a big nation in terms of population, but innovation is part of our DNA, it’s a big reason we can compete on the global stage. We’ve got to do everything we can to foster, support and promote our country’s great innovators,” said judge Arron Wood AM, Chief Policy and Impact Officer at the Clean Energy Council.

Innovations entered in the competition emerged from all corners of Australia, with representative numbers from New South Wales, Queensland, South Australia, Victoria, Tasmania and from Western Australia.

Shortlisted finalists included Audioplay, Camp Connect Pty Ltd, Claire Rackely, Emma Charters, Foxo, FreddyBear, Hypersonix, LeapForward, Mustard Seed, Natural Branding, OneVision, OWAD Environment, Scoot Boots, Sensibility, Southern Ocean Subsea, Sprightly, StandbyU and Violet.

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During periods of economic uncertainty, businesses are compelled to think outside the box and revamp their operations. In this editorial, we explore how Australia is leveraging AI and Industry 4.0 to redefine efficiency in the face of economic challenges.

The Power of Continuous Improvement

In the business world, continuous improvement is the key to staying ahead of the competition. This advantage is amplified when companies improve at a faster pace than the rest of the industry. In times of economic downturn, rapid innovation becomes imperative. This is where Australia’s adoption of cutting-edge technology, particularly AI and Industry 4.0, comes into play.

The Transformation of AI and Industry 4.0

Australian enterprises are harnessing the potential of AI and Industry 4.0 to redefine operational efficiency and navigate challenging economic conditions. Research from leading firms such as Gartner and McKinsey predicts that by 2025, up to 50% of operational tasks will be automated with AI-driven technologies. This frees up human workers for more strategic, value-added roles.

Additionally, the World Economic Forum foresees that Industry 4.0 could unlock over $3.7 trillion in value for global manufacturing by 2025, highlighting the substantial economic advantages of this transformative era.

Historical Context: The Industrial Revolutions

To truly appreciate the significance of AI and Industry 4.0, we must place them in a historical context. Throughout history, technological advancements have consistently reshaped the way goods are produced, often referred to as industrial revolutions.

• The First Industrial Revolution began with the use of steam power and mechanization in the 18th century, initially raising concerns about job displacement but ultimately creating new roles in manufacturing.
• The Second Industrial Revolution, in the 19th century, commenced with the discovery of electricity and assembly line production, reshaping the workforce and creating opportunities in skilled labor and management.
• The Third Industrial Revolution, starting in the 1970s with partial automation and the use of computers, laid the foundation for comprehensive production automation without human intervention.

Today, we stand on the cusp of the Fourth Industrial Revolution, often called “Industry 4.0.” It’s marked by the application of information and communication technologies to industry, connecting all systems and giving rise to “cyber-physical production systems” and smart factories where production is nearly autonomous.

The Transformative Power of Industry 4.0

Industry 4.0 brings forth remarkable advances in factory environments. Examples include machines that predict failures and initiate autonomous maintenance processes, and self-organized logistics systems that respond to unexpected production changes. This revolution also extends its transformative power to how people work and live.

Industry 4.0 integrates individuals into smarter networks, promoting more efficient work. Digitization in manufacturing allows for flexible information dissemination, providing maintenance professionals with timely equipment documentation and service history at the point of use.

Industry 4.0 is a game-changer across industrial settings, revolutionizing manufacturing processes, distribution methods, product servicing, and refinement. It signifies the dawn of the Fourth Industrial Revolution.

Unlocking the Full Potential

Australian enterprises are working towards unlocking the full potential of modern interconnected ecosystems and redefining new ways of working that deliver tremendous efficiency gains and enhance human experiences. Contemporary technologies empower enterprises to achieve desired results with optimal resource utilization. They improve operational safety, reliability, and sustainability. Collaboration extends beyond human-to-human or human-to-machine; it encompasses machine-to-machine interactions. Artificial intelligence, now mainstream, enables machines to make real-time decisions, supporting human decision-making abilities.

Illustrative Examples

Here are some illustrative examples of how AI and Industry 4.0 are being used to improve operational efficiency in different industries:

• Manufacturing: Predictive maintenance, quality control, supply chain optimization, energy-efficient manufacturing, process automation.
• Retail: Dynamic pricing, customer behavior analysis, return fraud detection, personalized recommendations, inventory management, sentiment analysis.
• Financial Services: Credit scoring, algorithmic risk assessment, fraud detection, algorithmic trading, customer service.

Challenges in Embracing AI and Industry 4.0

While the promises of AI and Industry 4.0 are profound, they are not without their challenges.

Source: Atalanta Kar, Vice President and Global Head (Sales and Client Relations) at Nihilent Limited

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Eighty-eight percent of Australian leaders and 76% of information workers said innovation is necessary to win against the competition. And without it, 88% of leaders said companies risk survival in the next five years.

Despite wide agreement that innovation should be a priority, most (73%) believe it falls by the wayside. Why is this?

Economic uncertainty

Seventy percent of Australian leaders said innovation feels like a luxury and not a necessity in the current climate – 13% higher than the global average. What’s more, 65% said their company should pause innovation until the economy is more stable, and 62% weren’t willing to risk prioritising breakthrough innovations – both figures exceed the global average by 10%.

Fear

Seventy-two percent of leaders agreed fear gets in the way of pushing harder to innovate, and 68% said their company is afraid to prioritise innovation – again outstripping global averages by 10%. Fear is also deeply personal: Nearly one-third of leaders worry about derailing their careers or damaging their reputation if innovation projects go awry, while 54% of information workers worry their jobs will be at risk if their company fails to innovate.

Outdated technology and lack of cross-functional collaboration

Both leaders and information workers agreed the biggest roadblocks on the path to innovation are technological challenges (like legacy tools) and organisational challenges, especially those related to cross-functional collaboration. Thirty percent of leaders cite technological hurdles, and 25% cite organisational hurdles. Similarly, 31% of information workers cite technological hurdles, and 31% cite organisational hurdles.

“It’s clear that Australian enterprises are conflicted,” said David Oakley, Head of APAC at Miro. “Leaders and information workers agree that innovation is critical, with many saying their companies won’t survive the next five years without making substantial changes to their innovation strategy. But their ability to innovate is being deeply hindered by a potent combination of economic uncertainty, fear, and outdated technology. Australian leaders are noticeably more apprehensive towards innovation than leaders in other countries and they need to overcome this fear and take bold action if they’re to remain competitive and relevant on the global stage.”

“Innovation is an existential crisis for companies today – those that fail to meet the moment will soon be extinct,” said Paul D’Arcy, Miro’s Chief Marketing Officer. “Fortunately, in uncovering the obstacles that organisations encounter on their path to bringing new products and services to market, the data also offers insight into how to face these challenges. By prioritising these solutions, companies can chart a course not just to survival, but to generational success.”

How can companies overcome the innovation crisis?

Survey findings show that organisations are not managing innovation at scale or on a breakthrough level. Miro believes that in order to overcome the innovation crisis, companies need to:

• Be clear on strategy and communicate it throughout the organisation
• Develop a diverse portfolio, including pursuing breakthrough bets with confidence
• Streamline cross-functional product development processes, optimising for velocity and customer-centricity
• Address the core drivers of fear, and work to normalise failure and failing fast

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If it gets to be much smarter than us, it will be very good at manipulation because it would have learned that from us. And there are very few examples of a more intelligent thing being controlled by a less intelligent thing.

Anyone who has kept tabs on the latest AI offerings will know these systems are prone to “hallucinating” (making things up) – a flaw that’s inherent in them due to how they work.

Yet Hinton highlights the potential for manipulation as a particularly major concern. This raises the question: can AI systems deceive humans?

We argue a range of systems have already learned to do this – and the risks range from fraud and election tampering, to us losing control over AI.

AI learns to lie

Perhaps the most disturbing example of a deceptive AI is found in Meta’s CICERO, an AI model designed to play the alliance-building world conquest game Diplomacy.

Meta claims it built CICERO to be “largely honest and helpful”, and CICERO would “never intentionally backstab” and attack allies.

To investigate these rosy claims, we looked carefully at Meta’s own game data from the CICERO experiment. On close inspection, Meta’s AI turned out to be a master of deception.

In one example, CICERO engaged in premeditated deception. Playing as France, the AI reached out to Germany (a human player) with a plan to trick England (another human player) into leaving itself open to invasion.

After conspiring with Germany to invade the North Sea, CICERO told England it would defend England if anyone invaded the North Sea. Once England was convinced that France/CICERO was protecting the North Sea, CICERO reported to Germany it was ready to attack.

This is just one of several examples of CICERO engaging in deceptive behaviour. The AI regularly betrayed other players, and in one case even pretended to be a human with a girlfriend.

Besides CICERO, other systems have learned how to bluff in poker, how to feint in StarCraft II and how to mislead in simulated economic negotiations.

Even large language models (LLM) have displayed significant deceptive capabilities. In one instance, GPT-4 – the most advanced LLM option available to paying ChatGPT users – pretended to be a visually impaired human and convinced a TaskRabbit worker to complete an “I’m not a robot” CAPTCHA for it.

Other LLM models have learned to lie to win social deduction games, wherein players compete to “kill” one another and must convince the group they’re innocent.

What are the risks?

AI systems with deceptive capabilities could be misused in numerous ways, including to commit fraud, tamper with elections and generate propaganda. The potential risks are only limited by the imagination and the technical know-how of malicious individuals.

Beyond that, advanced AI systems can autonomously use deception to escape human control, such as by cheating safety tests imposed on them by developers and regulators.

In one experiment, researchers created an artificial life simulator in which an external safety test was designed to eliminate fast-replicating AI agents. Instead, the AI agents learned how to play dead, to disguise their fast replication rates precisely when being evaluated.

Learning deceptive behaviour may not even require explicit intent to deceive. The AI agents in the example above played dead as a result of a goal to survive, rather than a goal to deceive.

In another example, someone tasked AutoGPT (an autonomous AI system based on ChatGPT) with researching tax advisers who were marketing a certain kind of improper tax avoidance scheme. AutoGPT carried out the task, but followed up by deciding on its own to attempt to alert the United Kingdom’s tax authority.

In the future, advanced autonomous AI systems may be prone to manifesting goals unintended by their human programmers.

Throughout history, wealthy actors have used deception to increase their power, such as by lobbying politicians, funding misleading research and finding loopholes in the legal system. Similarly, advanced autonomous AI systems could invest their resources into such time-tested methods to maintain and expand control.

Even humans who are nominally in control of these systems may find themselves systematically deceived and outmanoeuvred.

Close oversight is needed

There’s a clear need to regulate AI systems capable of deception, and the European Union’s AI Act is arguably one of the most useful regulatory frameworks we currently have. It assigns each AI system one of four risk levels: minimal, limited, high and unacceptable.

Systems with unacceptable risk are banned, while high-risk systems are subject to special requirements for risk assessment and mitigation. We argue AI deception poses immense risks to society, and systems capable of this should be treated as “high-risk” or “unacceptable-risk” by default.

Some may say game-playing AIs such as CICERO are benign, but such thinking is short-sighted; capabilities developed for game-playing models can still contribute to the proliferation of deceptive AI products.

Diplomacy – a game pitting players against one another in a quest for world domination – likely wasn’t the best choice for Meta to test whether AI can learn to collaborate with humans. As AI’s capabilities develop, it will become even more important for this kind of research to be subject to close oversight.

Source: The Conversation

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The key research findings on SMEs and AI include:

• Four in five small businesses are concerned AI development and adoption is outpacing regulation.

• Data privacy violations (41%) and sensitive information disclosure (41%) are the biggest ethical challenges perceived by small business, followed by worker displacement (38%). 

• Half of small businesses believe AI will be more helpful and have a positive impact on their people, processes and workflows, compared to 20% who said it is more harmful.

• 69% of small businesses said they have seen drawbacks when using generative AI in their business.

• 43% feel that training and resources on different types of AI and its impact on their business or industry is necessary for their business. 

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Organisations see generative AI as an opportunity to drive revenues

Despite apparent risks, such as copyright infringement or cybersecurity, 74% of executives believe that the benefits posed by generative AI outweigh the associated concerns. While 21% anticipate a disruption in their industries, 40% of organisations across industries have already established teams and budget for the technology, with a further 49% contemplating doing so within 12 months.

The research on AI and business revealed:

• Organisations believe that the most relevant generative AI based platforms or tools for their industries are chatbots for automating customer service and improving knowledge management (83%) and designing, collecting, or summarising data (75%)
• Most executives believe that generative AI will make product and service design more efficient (78%) and accessible (76%)
• They also said it will make customer experiences more interactive and engaging (71%) or improve customer service with automated and personalised support (67%).

A range of further benefits within three years

Within three years’ time, and following the successful implementation of generative AI, executives foresee a range of benefits. They believe that its integration will lead to an 8% increase in sales and a 7% decrease in costs. Alongside this, those surveyed indicated that they could expect to see a 9% improvement in both customer engagement and satisfaction, and operational efficiency.

“Generative AI is a transformational force for innovation in organisations, accelerating industry specific use cases to create value, and it’s no surprise that it’s already at the top of the agenda of virtually every large organisation,” comments Franck Greverie, Chief Portfolio Officer and Group Executive Board Member at Capgemini. “While generative AI can enable numerous benefits for businesses and employees alike, adopting a human-centric approach while scaling the technology and implementing necessary guidelines will be key to fostering trust in the workplace. As businesses accelerate their generative AI journeys, they must prioritise implementing it sustainably across the organisation.”

Also read: The unstoppable force of AI…explained by a technology lawyer

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The competition will be judged by a panel of Aussie innovation experts who will award prizes based on market fit, customer support, and potential impact. A total prize pool of $150,000 will be shared between five winners who showcase the best examples of Australian innovation.

“Through this competition, we are looking to celebrate Australian ingenuity and particularly those innovations that are hidden from view right across our economy,” said Kylah Morrison, General Manager – Skills and Innovation for Industry Growth Centre METS Ignited.

“There are so many fantastic ideas being generated in our schools, universities, research organisations and private companies around the country. My aim is to find them, celebrate them, and give them an opportunity to shape the future of Australia,” Morrison continued.

No matter how big or small, every idea – from any industry or part of Australia – will be in the running to win.

“If you have a great innovation that delivers tangible value to society, this is your opportunity to showcase your creation on a national stage, maximise your reach and expand your potential impact for the benefit of all. Your innovation might contribute to the energy transition to help combat climate change, it might support food production in extreme weather conditions such as drought, or it might leverage emerging technologies such as robotics and artificial intelligence in new ways. The sky is really the limit,” concluded Morrison.

Entries to the Australian Innovation Competition are now open. Submit your entry here.

ABOUT THE AUSTRALIAN INNOVATION COMPETITION

The Australian Innovation Competition is a one-off celebration of Australian ingenuity that will be open from 29 June to 31 August 2023. The competition is promoted by Industry Growth Centre METS Ignited. Entry is free and open to entrants of all ages, from anywhere in Australia. All entries will be judged individually on their merits, and five winners will be selected by an independent judging panel of Australian Innovation experts, to receive a share in $150,000.

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