‘Fail early, fail often’ mantra forgets entrepreneurs fail to learn

"The government wants entrepreneurial Australians to fail. The innovation package it released this week is a set of policy measures designed to pep up the Australian economy through encouraging entrepreneurial failure in the hope that such failure will eventually lead to success. The package includes additional funding for research, tax breaks for early stage investment and more lenient bankruptcy laws. The hope is this will all foster an “innovation ecosystem” which will help to pivot Australia from a resources-dependent economy to one which generates fast growing startups in sectors like IT and bio-tech. At the heart of the innovation package is a fashionable idea – entrepreneurship relies on failure." Read more

Andre Spicer The Conversation 9 December 2015