Future prospects are promising, page-23

We just don't have the scale and flexibility to have enough engineers etc . We are losing our critical mass. I'll still pit my 5 Aussie engineers and their resources over 50 Indian blokes any day in innovation as they think differently although the parrot fashion university education of the last 15 years is making the new recruits dull in innovation and scared of failure as it is all about career and they think they only have one go at it. Failure is not a bad thing if you learn from it and guys I have worked with on some of the biggest failures about and the ability to problem solve them with critical thinking has prevented many other projects headed into the abyss from doing so. It takes time and time is money.

We lose so much by doing design and prototyping but then manufacturing overseas. That margin and learning process afforded by seeing the product from birth to use all adds to knowledge and innovation as you physically see the pitfalls or benefits. You often don't have the scale to then protect our intellectual property as so much of the profit is held n manufacturing etc. Without scale you can't afford to have all that older knowledge hanging around in the office and imaginative young guns with new ideas waiting to unleash . You just can't tun on a tap. Makes me want to go slap some politicians etc every day as I see core aussie and kiwi ideas stay stagnant for years and on their coat tails I see overseas companies infringing and delivering at profitable scale the developments we should have done onshore. The way we mine , test materials, farm , small amendments to modify farm machinery our protocols and all the little details walk out the door for free. Our CSIRO needs a whole revamp and so does the way our universities commercialise things and protect IP..

You are right we are losing the battle of scale and ability to hold our IP and enforce it as we have never had the culture and believe the world is a fair place.

Maybe our government future fund should mandatory be issued a 5% non dilutable holding in all companies so we get a return on our investment in education don't have to wait for profitability and taxation to get a return as it seems so many companies get to the edge of profitability and are simply sold offshore and Aussie Govt and people just don't get the return they should ? That way govt would participate in all winners not do like they do now and grant money and try and pick winners abut have no investment in them. PNG govt did this to stop the that was over there and ministers copping bribes etc as no lump sums were paid it is a trail commission from resource projects etc Maybe then the Aussie govt would fight for locally developed IP and with govt support and backing we wouldn't be walked over internationally and defrauded as a country.

Sorry for the long post - I just hate seeing quality of Australia inovation, manufacturing and engineering degrade and no other sector using those brains to achieve something.