The PM tells the industry minister to get innovating, and he'll worry about the cost later

‘Thanks boss!’ Photo: Stefan Postles/ Getty.

Malcolm Turnbull has made it very clear that innovation is at the top of his priority list as new prime minister.

But he recently made his first suggestion that price is not a concern when it comes to developing Australia’s burgeoning innovation sector.

According to industry minister Christopher Pyne, speaking at a manufacturing plant near Geelong yesterday, the PM wants Pyne to think big, and he’ll worry about where the money to support it will come from down the track.

“Malcolm said: ‘Come up with some ideas to bring together a national innovation agenda’,” Pyne said.

“I said, ‘That will cost money.’

“He [Turnbull] said, ‘Let me worry about the money, you get on with the ideas.'”

It’s a golden opportunity for Pyne at a time when other ministers are being told to tighten their budgets. He plans to find ways for start-ups to use crowd-funding to attract investment.

Pyne was at the plant for the opening of the Carbon Revolution’s new factory in the Geelong Technology Precinct at Deakin University Waurn Ponds.

The facility will export cutting edge composite wheels to auto and aerospace manufacturers globally.

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