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Understanding the entrepreneurship process – how people create and grow ventures and what they need to succeed – must be underpinned by substantial local academic research and funding. We need to study entrepreneurs with academic rigour and learn how to build a world-class ecosystem for new ventures.
“Australia does not respect entrepreneurship, research it properly, or adequately fund it,” Hindle says. “We do not understand in any meaningful way how invention plus entrepreneurship equals innovation. Most models that try to explain entrepreneurial process are rubbish. How can you promote entrepreneurship in Australia if you don’t fully understand it?”