Assistant Minister for Innovation Wyatt Roy on the definition of innovation and the key to driving Australia's future prosperity [listen]

"The federal government will today announce a range of measures - to boost innovation and science - at a cost of more than $1 billion. It is the first big initiative announced by Malcolm Turnbull as Prime Minister - and puts his personal stamp on government policy. Assistant Minister for Innovation, Wyatt Roy, defines innovation as "an output of a deeply entrepreneurial culture, and it's an output of a culture that embraces people and ideas and one that is tolerant to risk," he says. He also says the key to driving future prosperity of our country is enabling and collaborating with the private sector. "That's where we've got to see the role of government is bringing together both sides - the private sector, the incredible research we do, so we commercialise things and create these incredible businesses, products, ideas that change the world for the better," he says. For more on the government's plans Marius Benson speaks to the Assistant Minister for Innovation, Wyatt Roy." Listen here

ABC News Radio 7 Dec 2015