Innovation is the new buzz word in business for very good reason. New business opportunities are opening up to help business owners be more disruptive, innovative and creative, and, in turn, boost their businesses to the next level.
The STEM (science, technology, engineering and mathematics) education system will help Australia compete on a world-wide scale when it comes to innovation in business. Excellence in these areas is a symbol of an innovative and vibrant economy.
Here’s why STEM education is so crucial:
• About 75 per cent of the fastest-growing industries in Australia require STEM skills, meaning STEM education and careers are critical to building our economic future.
• STEM education disrupts traditional gender roles and must be fostered at a national level to compete in a global economy.
• These skills are increasingly important to the Australian workforce as technology makes way for automated roles and the demise of some jobs. Small business employs 75 per cent of the Australian workforce.
• In our information-rich modern economy, for students, employees and businesses alike, according to the Bureau of Economic and Business Research it “promotes advancement by encouraging people to ask questions, develop critical thinking skills, analyse large quantities of data, learn from hands-on experimentation, identify connections between different disciplines, persist in problem solving even at the risk of failure, work collaboratively, learn good communications skills, and strengthen research skills”.
• Scientific knowledge and skills help negotiate social and personal issues more easily. In an Australian Council of Deans of Science (ACDS) study, 88 per cent of people reported using their scientific knowledge and skills to understand everyday issues in society; 83 per cent could give advice to friends and family; and 87 per cent use it in their personal endeavours.
• The benefits of STEM in our community as a whole are invaluable. Companies at the forefront of this include Cisco, which vouched up to $31 million for STEM education in Australia, and BHP Billiton, which recently introduced a $28.8 million CSIRO program for Aboriginal and Torres Strait Islander students.
To learn more about innovation, purchase your ticket to Rare Birds Con this month in Sydney and join hundreds of female entrepreneurs looking to innovate and expand their businesses.