Federal government to spend $28 million on ad campaign for the innovation statement and to push startup culture

The federal government is set to spend $28 million on an advertising campaign to promote its flagship $1 billion innovation statement and push for a new innovation startup culture in Australia. 

As The Age first revealed on Wednesday morning, the taxpayer-funded campaign will include television, digital platform, social media and print ads, as well as “on the ground” engagement.

The campaign will focus on this culture shift, minister for industry, innovation and science Christopher Pyne told The Age.

“It will be designed to help change the culture around innovation and science in our businesses, engage young people to help inspire the entrepreneurs of the future and any provide the key information to any Australian wanting to take a risk on a new business venture,” Pyne said.

The innovation statement was unveiled by Prime Minister Malcolm Turnbull late last year, featuring 24 policies costing $1.1 billion over four years.

It focused on facilitating more private investment in early-stage startups and encouraging collaboration between the private and public sectors. 

Another key tenant of the statement was triggering a shift in Australia to embrace innovation and startups and this will be what the $28 million ad campaign will be focusing on. 

“It is about creating a culture that backs good ideas and learns from taking risks and making mistakes,” the innovation statement said.

“We need a greater emphasis on celebrating success rather than penalising failure. This takes a cultural shift to encourage more Australians and businesses to take a risk on a smart idea.

“We need to leave behind the fear of failure and challenge each other to be more ambitious.”