Companies would be much more innovative if they took a chance more often, a previous political leader said.
Malcolm Turnbull believes the national innovation sector would be much stronger if there was no fear of failure or lack of ambition.
The former prime minister urged Canberra to start aggressively spending more taxpayer money.
“Public servants would rather spend hundreds of millions of dollars if not billions of dollars with large international companies than take a risk on an Australian company,” he said at the Tax Institute’s 2022 tax summit conference.
Turnbull suggested the Australian government should follow the Biden administration’s example of embracing new technology, especially when purchasing goods and services.
“Innovation is scary for some. A lot of people hear the word innovation and they think that means ‘some kid with an iPad is going to take my job’. On the other hand, if you are not prepared to innovate you just get left behind,” he said at the event.
nice to see young Malcolm urging other people . like his investments in green tech.