Brisbane

Brisbane is a hub for progressive talent and innovative advancements set to propel the city into the future. Thanks to a group of creative leaders and entrepreneurs and a higher education system that is developing talented graduates with cutting-edge skills; new players in emerging sectors are putting down roots in the city, further endorsing Brisbane's international reputation as a new world city. Innovation in the digital economy is a priority for Brisbane with the city appointing the world's second Chief Digital Officer who will harness the collective power of Brisbane's digital talent, businesses, government, academia and citizens to open the door for Brisbane to effectively engage in the $US20 trillion global digital economy. A known leader in mining technology and services and information communications technology, Brisbane has been identified as a "Hotspring of Innovation" noted for its fast growth fuelled by new players in emerging sectors. But will innovation be the driver that carries the city forward, cementing its burgeoning international reputation as a new world city? We asked three specialists in the field of innovation for their thoughts,John McGagh, Head of Innovation, Rio Tinto, Tim Kastelle, Senior Lecturer, University of Queensland Business School and Llew Jury, Managing Director, Reload Media. We asked three specialists in the field of innovation for their thoughts. Would you describe Brisbane as an innovation cluster? Llew Jury: Yes, I would. In the digital space, a combination of a "new world city" attitude, great lifestyle factors, good city governance with a priority on building a world class digital strategy have all contributed to Brisbane evolving as an innovation cluster. Innovation has been identified as critical to long term investment and growth in our region. We need to make sure we stay ahead of the curve as we'll always have international challenger cities wanting to replicate our success. Tim Kastelle: Brisbane shares a lot of the innovation characteristics that we see throughout Australia. It is a very inventive region and we generate a lot of great ideas here. The big issue from an innovation standpoint is that these ideas are not consistently turned into products or businesses that drive growth. Innovation is about executing new ideas to create value. Brisbane firms are good at doing this, but I think they could definitely be more ambitious in their aims. John McGagh: Brisbane is a magnet for innovation in a number of areas and I would describe it as an innovation cluster. This is evidenced in the high number of SME industry clusters that exist in the city, including, ICT, biotechnology, gaming, fashion design, aviation, mining and mining suppliers. Brisbane boasts a high skills base, world class education facilities and a strong blend of local, interstate and international companies contributing to its growth, with many big multi-nationals increasing their focus here. Our entrepreneurial spirit, complemented by a local government that is highly supportive of new ideas, industries and businesses has resulted in rapid growth for the city. How is innovation in Brisbane best demonstrated? LJ: An example of how innovation in the digital economy has become a priority for Brisbane is the recent appointment of Chief Digital Officer, Kieran O'Hea. Lord Mayor Graham Quirk and Brisbane Marketing recently appointed this key role to grow and prioritise the establishment of Brisbane as a world leader in the digital space. The role is only the second appointment of its kind globally behind New York and shows that Brisbane is leading the way from a global digital innovation perspective. Mr O'Hea recently released an audit of his findings and acknowledged that whilst we were doing well in the digital space, there was plenty of room for improvement. In the auditing process, twenty five digital champions doing great things to drive digital business in Brisbane were identified and we will need to add to that number to further showcase our great city to the world. Another great innovation hub is the River City Labs in Fortitude Valley. Led by Stephen Baxter, a veteran of the IT and digital space in Brisbane, the labs are becoming a key hotspot for innovative start-ups wanting to take on the world. Already many of these start-ups are getting angel investment and venture capital interest in their smart phone applications and websites, with some of this interest coming from Silicon Valley. TK: Brisbane's real strength in innovation is that it is widespread. Results obtained by two of my colleagues, John Steen and Martie-Louise Verreynne, for the Brisbane Innovation Scorecard have shown that a majority of firms here do undertake innovation and it is fast becoming a high priority for businesses in the city. This is great news and provides an excellent foundation for expanding innovation efforts in the future. The challenge going forward is to figure out how to build on this skill at executing incremental innovations so that we start to create larger innovations that have a bigger impact. JM: The fact that I am based here with key members of my team shows that Brisbane is an important location for Rio Tinto. e're heavily involved with the University of Queensland's research and education facilities, including the Julius Kruttschnitt Mineral Research Centre, which is the global mineral industry's partner-of-choice for innovation in mineral processing and geometallurgy research. It is one of just five Rio Tinto Centres of Excellence around the world. What factors contribute to Brisbane's unique ecosystem for innovation? LJ: There is definitely an active culture of innovation in Brisbane, with encouragement of entrepreneurship from many industry associations, educational institutions, the Brisbane City Council and businesses. The fantastic lifestyle that we have in Brisbane helps people to engage and socialise and this in turn builds networks that promote start-ups and new innovations within business. The education facilities are also second to none, with world class teaching and learning environments producing talent that starts innovating as soon as they commence their careers. Many Brisbane based companies such as Reload Media have a young average age. Ours is 25 years with our staff running large national marketing budgets and accounts due to their talent and being at the top of the game at a young age. TK: There are several factors that create support for innovation here in Brisbane. The people here are clever and well-educated, which leads to the generation of good ideas. There are three great universities here and solid networks for innovators. here is an increasing amount of resources for support available - accelerators like iLab and River City Labs, guidance like the Innovation4Growth initiative, government support such as BCC's work on supporting start-ups and corporate initiatives like Microsoft's Innovation Centre. All of these factors combine to provide a great set of resources for innovators. JM: There are many factors that contribute to Brisbane's innovative culture, and with them come a multiplying effect. Traditional industries are diversifying and Brisbane has a strong skills base, a local government that is supportive of innovation, and a geographical location that is well placed to optimise importing and exporting activity, particularly in the developing Asian economies. The city also benefits directly from mining and resources sector opportunities, such as the fly-in, fly-out (FIFO) workforce, support services and the supplier industry. hese factors combine to provide a solid platform for entrepreneurs to take risks; for SMEs to diversify and for existing workforces to grow their talents and gain new experience. Brisbane consumers also welcome a success story and I really don't think that the tall poppy syndrome is as evident here as it is in other Australian cities. Entrepreneurs such as Lorna Jane, Stefan, the Spierig brothers and Miranda Kerr are all lauded for their achievements and are held in high esteem as people to be emulated. How do these factors support the future of Brisbane as a city of global economic opportunity, leading the way in world class talent and innovative advancement? LJ: Brisbane has a great opportunity to drive economic activity through these initiatives in the future. We are close to Asia and have established networks in the US and European markets to allow companies to grow. Trade missions are also easy to access within Brisbane targeting Asia and the sub-continent. With the forthcoming digital strategy being delivered, this will showcase our game plan for becoming a world leader in the digital space. There is an opportunity to get the infrastructure right with fast broadband and network access that will grow new markets in content and video that will foster entirely new businesses in Brisbane. These businesses will trade and compete globally in the future. We will need to sell our great innovation environment and lifestyle with even more vigour to attract and retain the best talent. I feel we are doing a pretty good job at the moment and I am excited by what the next five to ten years will bring in terms of the implementation of Brisbane's digital strategy. TK: There are three things that will help leverage the current level of innovation that we have in Brisbane. Firstly, we need to build stronger international networks. The way to have international impact is to be working internationally. We must galvanise our networks with the rest of the world. Secondly, let's think big. As I said before, many firms here innovate, but most of the innovation is incremental. We need to be more ambitious in this regard. Also, we need to rethink how we approach risk. One of the things that keeps our thinking too small is risk aversion. It's easy to find reasons to not try things, but there is a huge unacknowledged risk to standing still when your business environment is changing rapidly. We need to get better at thinking about risk. One good way to do this is to undertake lots of small experiments, and then scale up those that work. JM: I believe there are significant opportunities ahead of us. Look at our growth and expansion in just the past five to ten years. Brisbane is now a hub for major multinational firms. As recognition of this fact alone increases, so too does local activity, output and civic pride. Our growing reputation for innovation and growth provides an excellent opportunity to redefine the city. For example, no-one talks about Brisbane as a backwater any more, but as a thriving, growing city which has beaten others in its path to attract big firms, major employers, large industries and innovative companies to establish key operations here. Brisbane can't be underestimated as a total package. Add to the great business opportunities an excellent climate, safe affordable housing, top educational facilities, world class eateries, cultural expression through art and music, sport and a myriad of other lifestyle benefits and the city shapes as a highly attractive proposition to live and work. How does this act as a catalyst for your own operations? LJ: For Reload Media, we appreciate the digital innovation that is occurring in Brisbane as we can then transfer our knowledge and implement new strategies into our other three offices worldwide. From our perspective, we see Brisbane as a great place to foster innovation and enjoy the great support from all levels of government. TK: My location in Brisbane is interesting. I study innovation worldwide, and when I talk to people overseas, one of the things that they value is my global perspective. We're digitally connected with everyone here, but still geographically isolated. This isolation can help us come up with novel ideas, and the connectedness makes it easier to get these new ideas to spread. I try to take advantage of both of these factors in my work studying and teaching about innovation. JM: Rio Tinto has its biggest office complex in Brisbane. The city was deliberately chosen as a hub for support services and corporate functions to support not just our Queensland operations, but in many cases, global teams. The excellent education on offer in Brisbane has led us to set up key partnerships with academia here and devise pathways for future talent recruitment. Brisbane has become a truly desirable place to live, which makes it easy to attract key talent to our business or relocate senior executives here to settle with their families into a vibrant, supportive and safe environment.