Boosting entrepreneurship with global partners

Minister for Industry and Science Ed Husic has met with government leaders from across the Indo-Pacific today for a series of discussions aimed at boosting entrepreneurship and innovation in the region.

The Global Entrepreneurship Congress 2023 (GEC 2023) brings together representatives from around 170 countries and aims to foster deeper collaborations between entrepreneurs, investors, policymakers, researchers and governments to get the conditions right for entrepreneurs to thrive, create more jobs, accelerate innovation and strengthen economic collaboration and growth.

During GEC 2023, Minister Husic met with science and technology Ministers and Ministerial representatives from Vietnam, Malaysia and the Philippines to discuss policy approaches to support a vibrant entrepreneurial economy, including:

  • Mr Huynh Thanh Dat, Vietnamese Minister for Science and Technology
  • Mr Mahadhir Aziz, CEO, Malaysia Digital Economy Corporation
  • Mr Antonio Mauricio, General Manager of the Philippine National Development, Philippines

Discussions covered a range of topics, including the importance of large-scale, scientific and collaborative research initiatives in boosting innovation, getting the regulatory conditions right for entrepreneurs to thrive and ensuring government support is targeted to the right sectors of the economy.

The new $392 million Industry Growth Program and $15 billion National Reconstruction Fund will target projects leveraging Australia’s competitive strengths in clean energy, robotics, medical science and other advanced technologies.

Earlier this year, Australia and Vietnam marked 50 years of diplomatic relations, and a proud history of close cooperation on scientific engagement. Australia and Vietnam signed the treaty level Agreement on Scientific and Technological Cooperation in June 2013, which established the Joint Committee on Scientific and Technological Cooperation. 

Both countries have been working closely to boost sustainable, inclusive economic growth through bilateral trade and investment since then.

The GEC is an annual event hosted by the Global Entrepreneurship Network to explore the latest programs, policies and efforts to help entrepreneurs start and scale. This is the first time the event has been held in Australia.

Quotes attributable to the Hon Ed Husic, Minister for Industry and Science:

“It was great to welcome important representatives from across the world to Australia to share insights from Australia’s thriving venture capital and startup sector.

“It’s crucial that we as policy makers support entrepreneurs by ensuring the institutions, systems and mechanisms that create and sustain them are as effective as possible.

“I look forward to continuing to work together to support innovation and entrepreneurship and address shared challenges, including Australia’s transition to clean energy and enhancing our advanced manufacturing capability.

“I was also pleased to celebrate 50 years of diplomatic relations, friendship and excellence in science and research with the Vietnamese Minister for Science and Technology Huynh Thanh Dat. 

“The Australian Government is committed to working more closely with our Southeast Asian partners to encourage and nurture global entrepreneurship and innovation, and maximising the opportunities that this can offer.”