Labor's plan for innovation in Deakin - Joint Media Release


Joint media release with Candidate for Deakin Tony Clark

Shadow Assistant Treasurer Andrew Leigh and Labor candidate for Deakin Tony Clark have today visited the Centre for Regional Knowledge and Innovation at Realm to discuss Labor’s plans for powering a new wave of Australian start-up businesses.

We know that new businesses are the biggest job creators, so providing an environment where start-ups can flourish will be central to growing more jobs in Melbourne’s East. 

During their visit to the centre, Leigh and Clark talked with local entrepreneurs about Labor’s plans to co-invest in breakthrough companies through our $500 million Smart Investment Fund. 

The fund will partner with private investors to back early stage and high potential companies, using their insights and expertise to ensure the money is well spent.

Shadow Assistant Treasurer Andrew Leigh said the Smart Investment Fund is just one part of Labor’s wider effort to ensure that Australians can seize the opportunities that come with a changing economy and technological disruption.

“By teaching kids to code from primary school; channelling more students into STEM subjects at school and university; and giving graduates the opportunity to develop their business ideas with a post-university start-up year, we can ensure the next generation find good jobs and face their futures with optimism,” said Dr Leigh.

“Labor’s aim in supporting start-ups and growing our innovation ecosystem is always to ensure we offer better opportunities for more Australians.”  

Labor candidate for Deakin Tony Clark said Labor’s commitment to innovation would have an immediate benefit for start-up businesses in Maroondah:

“You don’t have to see to know Ringwood is a fast changing area, from the new Eastland development to the innovation centre we visited today this area is full of potential. With facilities like this and Labor’s policies to drive innovation there is much to be excited about for business in Maroondah.”

Labor has now announced three waves of policies aimed at building a more innovative and entrepreneurial Australia. These include:

1. Accelerating innovation in our regions through Regional Innovation Hubs

2. Improving access to Startup Capital through a suite of tax incentives

3. Creating an Innovation Investment Partnership to identify barriers holding back investment in Australian-based venture capital funds and early-stage enterprises

4. Attracting the best entrepreneurial talent from around the world to help build Australia’s growing startup economy through two New Visa Categories.

“Talking to local entrepreneurs today has really brought home the difference Labor’s plans will make in places like Melbourne’s east when we get start-ups thriving and creating new jobs,” said Dr Leigh.    



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Cnr Gungahlin Pl and Efkarpidis Street, Gungahlin ACT 2912 | 02 6247 4396 | [email protected] | Authorised by A. Leigh MP, Australian Labor Party (ACT Branch), Canberra.