What are the ingredients of Silicon Valley that make it the Valley? Is it the Venture Capitalists who understand risk and reward? Is it the US bankruptcy laws that allow for the innovation to find new foot holds? One thing is for certain, it is a culture, and attempts at its replication across the globe have not yielded the same results.
The Economist in From lucky to plucky shares the current trend in business innovation in Australia:
"Mr Lynch (of DesignCrowd) foresees a “mini startup boom” emerging in Australia. And he is optimistic that the interventions of the tech-friendly prime minister can only help Australia go from being the Lucky Country to one that makes its own luck."
One thing is for certain if history is a guide, politics and policy do not create technology booms. Let's watch closely as Australia with a commodities driven economy moves forward in this quest. See the complete article here.