In brief
Prime Minister Malcolm Turnbull has unveiled the hotly awaited National Innovation and Science Agenda (NISA). The Prime Minister declared the beginning of the Ideas Boom, stating that 'unlike the mining boom, this is a boom that can continue forever'.
The NISA comprises more than 20 individual policies and will deliver $1.1 billion worth of measures to kick-start the Ideas Boom over the next four years.
It is a very substantial package. Some of the most important elements include the new tax measures to incentivise investments in eligible startups, reforms to the insolvency laws, more funding for CSIRO and a big push on STEM skills training.
Click here to read our summary of the key NISA measures. Over the coming weeks, as more detail is released, we will provide additional analysis of the key NISA measures and how they might impact on your business.
But, at first blush, the view of the Allens Accelerate team is that the measures will constitute a quantum leap for the startup landscape in Australia.