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The program will pick five winners, each of whom would get $100,000, “based on the most progressive ideas that represent entrepreneurship and innovation around technologies, processes and business models.” Additionally, GE and its partners will help commercialise these ideas, which is where the bulk of the $10 million program will kick in.
“Open innovation” isn't a term you associate with Australia. We don't even fund it anymore. When we used to, it was called Innovation Exchange. But it collapsed. Listening to accomplished speakers highlighting this point at the recent Innovation Series event at Langham Hotel, I asked myself: “Why?”