enhancing the ability of industry to do business with
accessing, sharing and leveraging information in the economy;
meeting the demand for skills required in the future.
What are the key findings?
The NSW Innovation Strategy identifies four primary goals which
underpin the Government's actions going forward:
making the Government a leader in innovation, by being more
open to external ideas and new approaches to the delivery of
helping research bodies capitalise on research and
equipping the labour force to meet technological advances;
building on Sydney as the start-up capital of Australia.
What can you expect?
A number of changes are contained in the NSW Innovation
Strategy, consistent with the goals identified above:
greater public sector risk taking and engagement -
particularly, in exploring innovative ideas and developing more
partnerships with the private sector. The New South Wales
Government has launched an Innovation
Concierge service - essentially, a portal for industry to
submit Government-related innovation queries and proposals, in key
priority areas, to develop those ideas and connect industry to
key Government contacts;
increased streamlining of Government processes, including the
release of open data where appropriate, simplifying procurement
guidelines and increasing regulator responsiveness. Regulatory
sandboxes will provide opportunities for industry to test
products and services whilst maintaining existing protections -
particularly in the agricultural, energy and health sectors;
the development of a new relationship management approach,
"Universities Connect" to assist with enhancing
relationships with the university sector, and building on the
Boosting Business Innovation Program; and
increased partnerships between the New South Wales Government
and Local Government to provide spaces for innovation, and open up
opportunities for innovative businesses, starting with the City of
How can you be involved?
The New South Wales Government has made it clear that the NSW
Innovation Strategy, while it will form the backbone for the
Government's ongoing work with industry, is only the start of
its drive on innovation and so we expect more initiatives to
For now, industry can:
engage with the New South Government on areas where regulation
can be streamlined;
take advantage of the Innovation Concierge service and engage
in regulatory sandboxes, where appropriate; and
leverage existing data available from the New South Wales
Government through Data NSW,
across a number of areas - from infrastructure and communication to
health - to gain greater insights for new or existing
Clayton Utz communications are intended to provide
commentary and general information. They should not be relied upon
as legal advice. Formal legal advice should be sought in particular
transactions or on matters of interest arising from this bulletin.
Persons listed may not be admitted in all states and
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The Australian Government has recently passed legislation that has clarified and widened the definition of managed investment trusts (MITs) to apply to certain unregistered wholesale funds and government owned funds in respect of the withholding tax concession. This amended definition will also be relevant for trusts making the capital account election. These recent changes should attract further foreign investment in Australian funds, assist Australian fund managers to compete with fund manager
Outsourcing computing resources to the cloud can bring some serious risks for online gambling operators.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).