Growing new ventures to a global scale is vitally important for the development of Australia’s entrepreneurial ecosystems. Australia has a very high proportion of small businesses, but both entrepreneurial activity and attitudes lag the United States.

This report argues that although Australia’s research system is strong, its performance in innovation and commercialisation is not. Nor has innovation policy been effective in driving sustained improvement.

This report explores the concept of entrepreneurialism in the twenty-first century, noting particularly the challenges implicit in the implementation of entrepreneurial practices, including teaching and learning for entrepreneurship, specifically for the vocational education and training (VET) system.