Aussie entrepreneur shuts innovation business

It’s an unfortunate day to day if you read Smart Company’s ‘Entrepreneur Tim Pethick shuts innovation business‘.

Yesterday was a sad day for entrepreneur Tim Pethick as he closed the Australian office of innovation company Whatif!

The founder of Nudie had joined Whatif! as managing director six months ago and had high hopes that he could not only grow the innovation consultancy but also to use the agency to spearhead an innovation agenda in Australia.

He says the issue was that the global board deemed Australia not exciting enough as a marketplace.

“Australian companies also expect to get half a million innovation projects for $50,000. The innovation ambition exceeds their willingness to pay.”

He also believes that Australians do not focus on innovation output. “They think of the cost not the new lines of products and services or the new revenue.”

I suppose if I look at the Australian start-up scene maybe this is right, or maybe its just that we don’t have the amount of people places like the US have.

Maybe there is an opportunity to change this?

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Scott Middleton
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