I am proud to support the 2004 Australian Innovation Festival. The Australian Government is a staunch backer of Australian innovation and this festival celebrates the wealth of the nation';s creative talent.
The Australian Innovation Festival consists of over 480 events throughout Australia. These events include conferences, awards, exhibitions and industry workshops - all with the aim of increasing awareness of innovation and creating new business opportunities.
For Australia to prosper in an increasingly competitive global economy and for us to meet the varied challenges facing our society we need to generate new ideas. Transforming those ideas into new products and services will create jobs and raise our standard of living.
The Australian Government';s Backing Australia';s Ability (BAA) package, a major partner of the Festival, supports the innovation process at every stage. Since its announcement in 2001, BAA has promoted science and innovation in Australia through a broad-ranging package. At $3 billion over five years, BAA is the largest and most comprehensive investment in innovation by an Australian government to date.
We will soon be announcing a new science and innovation package with further measures to boost our capacity for translating ideas into Australian jobs and income.
This year';s Festival promises to be an exciting showcase of the best that Australia has to offer and I hope it will inspire many more people to become involved in innovation. I encourage all Australians to take the opportunity to participate.