Importance of Creativity and Innovation for Economic Development in Australia

Entrepreneurship and Innovation 1 | P a g e
Entrepreneurship and innovation

Entrepreneurship and Innovation 2 | P a g e
Executive Summary
This report will focus over importance of creativity and innovation for a country. In this report,
significance of creativity and innovation will be discussed in consideration to Australia.
Australia is a developed country but still their growth rate is much lower than many developing
countries. With regards to this, it is necessary for the government of Australia to adopt and
implement certain effective strategies in consideration to creativity and innovation in order to
boost up the efficiency of the whole country in order to stand with the top growing nations as
well as for the objective of maintaining its effective position in the global market.

Entrepreneurship and Innovation 3 | P a g e
Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Significance of creativity and innovation........................................................................................4
How can country facilitate creativity and innovation......................................................................4
Benefits of investing in creativity and innovation...........................................................................5
Challenges........................................................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7