It’s not surprising that new Australian Prime Minister Malcolm Turnbull’s appointment has been well received by the startup community. When he talks about the Australia of the future being agile, innovative, and creative, he is speaking their language.
There is only one question. How do we get there?
There are at least a few countries in the world that could be characterized as agile, innovative, and creative. Among them: the United States, Singapore, and Estonia. What could we learn from them?
The United States has led the digital revolution. It started in Silicon Valley. There, Stanford and other universities provided a skilled STEM—science, technology, engineering, and mathematics—research base, the industry contributed venture capital and business expertise, and the government added steady and sustainable funding to the mix.
In America, creativity, innovation, and agility are deeply ingrained in society. The maker movement, exemplified by the global phenomenon of Maker Faires, started in California. Creativity is taught from the youngest age through initiatives such as City X, born in Wisconsin.
Singapore is one of the most advanced digital economies and benefits heavily from the commitment of its government. Singapore wants to become the world’s first “smart nation.“ The government has established institutions that focus on creating a vibrant startup ecosystem. Generous funding of startups and an attractive taxation system are ”icing on the cake” that the government serves.
Singaporeans want to be smart and well educated. The perception that knowledge can be the most valued resource of the country has been consistent over the 50 years of its existence.
Estonia is a young economy, moving fast in the digital space. Lack of legacy systems means that Estonians can quickly introduce digital solutions. There is no need to think about maintaining previous ones—there aren’t any. It’s an inventor’s heaven.
A strong push for STEM education has always been present in Estonia’s educational system. This, married with entrepreneurial spirit triggered when independence was restored in 1991, created a perfect storm. And it would not have been possible without the strong support of the government.
In the United States, Singapore, and Estonia, it is all about government support, education, and the right innovation culture.
Governments need to play a very active role. A robust ecosystem, like Silicon Valley, can be developed when a government is strategically focused. The U.S. government is now switching to a supportive role, with the digital economy becoming very mature.
