Ms TRISH DOYLE (Blue Mountains) (16:08): My question is addressed to the Minister for Innovation, Science and Technology. Will the Minister update the House on how the Minns Labor Government is bolstering innovation to drive the State's growth and prosperity?
Mr ANOULACK CHANTHIVONG (Macquarie Fields—Minister for Better Regulation and Fair Trading, Minister for Industry and Trade, Minister for Innovation, Science and Technology, Minister for Building, and Minister for Corrections) (16:08): I thank my good friend the member for Blue Mountains for her question and for her keen interest in innovation. I am very pleased to advise the House of the significant work that the Minns Labor Government has been doing to cement the position of New South Wales as the innovation powerhouse of Australia. It may not surprise many members of this House that 65 per cent of the nation's investment capital comes from New South Wales. This State is home to five out of eight tech unicorns, and is recognised as a leader in driving economic growth through innovation. Despite those impressive statistics, that position cannot be taken for granted because there is fierce global competition for talent, financial capital and investment.
To ensure that the Government can continue to compete in this space, we have developed a set of policies that are aligned and focused, and that are attracting the talent and investment we need to drive economic growth through innovation. That is why the Government has released theNSW Innovation Blueprint 2035, a landmark strategy to secure our State's future as the leader in the tech and high‑value industries. The blueprint sets clearly defined goals and priority action areas to guide how the Government designs programs, allocates funding and works with innovation stakeholders. This will help grow New South Wales and develop more companies like Afterpay, Atlassian, Canva and SafetyCulture in the years ahead. The innovation blueprint complements the NSW Industry Policy, which sets out the Government's long‑term vision for the economic future of New South Wales.
The Industry Policy is built around three core missions: housing, energy transition and local manufacturing. The innovation blueprint will help drive research and development as well as partnerships that are critical to achieving those missions. It also sets ambitious goals for the State, with a target of $27 billion in additional investment for the New South Wales economy over the next 10 years from innovation‑intensive firms, and nearly 100,000 additional jobs. They are ambitious goals because we are, by our nature, ambitious people. In addition, I advise the House of our exciting new vision for Tech Central: to establish it as the number one place in which to live and work. Tech Central also plays a key role as a future driver for the Government's key priorities to develop housing, health care, the night‑time economy, the visitor economy and world‑class transport infrastructure. [Extension of time]
Tech Central has the highest concentration of technology businesses in the country, with 150 research institutes and two world‑leading universities. At the heart of the development of our Tech Central strategy are three key elements. First is the development of a Tech Central economic development strategy that will consider how Tech Central can empower the innovation ecosystem, as well as play a greater role in housing, the visitor economy and creative industries to ensure that our community has better opportunities for the future. Second, it will transition Sydney Startup Hub to Tech Central, which will support and consolidate investors and startups to collaborate with universities and research institutes.
The SPEAKER: The member for Miranda will come to order.
Mr ANOULACK CHANTHIVONG: Third, it will provide specialist support within Investment NSW, which will drive investment activity at Tech Central. But the House does not need to take my word for it.
The SPEAKER: I call the member for Tamworth to order for the first time. I call the member for Miranda to order for the first time.
Mr ANOULACK CHANTHIVONG: Take the word of Mr Mike Cannon-Brookes, Atlassian co‑founder and CEO. Referring to our plan for Tech Central, he said, "Atlassian is a big supporter of Tech Central—the new home for Australia's technology industry."
The SPEAKER: I call the member for Miranda to order for the second time.
Mr ANOULACK CHANTHIVONG: Mike Cannon‑Brookes also said that the Government's plan "helps breathe life into Tech Central because a precinct without people is just buildings; it's not a community." What an endorsement for what the Government is trying to achieve in the innovation and technology space. That is exactly the point of the Government's innovation policies. They are not about tech, hard drives or billion‑dollar profits. They are about building a better New South Wales for the future. The Minns Labor Government's Industry Policy and innovation policies will ensure that New South Wales stays ahead of the curve by creating quality jobs, driving economic growth and building a better New South Wales for the future of our economy.
