2015-12-14 General Committee Agenda Attachment 1 to Item 3 Noosa Shire Economic Plan

Digital Economy

Who:                                                       The digital economy extends beyond just the ICT
                                                           sector and significantly affects the competiveness of
Digital industries are captured in a number of Australia   all businesses. It is widely accepted that technology
and New Zealand Standard Industry Classifications.         enables many businesses to achieve productivity
For example internet service providers, web search         gains and lowers costs relating to production,
portals and data processing services sit within            marketing, sales, back office processing and reporting.
the information media and telecommunications
classification whereas computer system design and          The Sunshine Coast Digital Action Plan led by
related services sit within the professional, scientific   Regional Development Australia Sunshine Coast
and technical service classification.                      suggests that digital innovation positively impacts
                                                           on supply chain management, process automation,
For the purposes of this plan the focus of actions is      real time reporting, business intelligence capabilities
centred on: the provision of critical infrastructure       and enables greater mobility.
necessary to support the use of technology; assisting
an entrepreneurial start-up sector to grow and             It is globally recognised that technology based
prosper; and supporting the growth of existing and         businesses are important drivers of economic growth
new digital economy businesses across all industry         and innovation. Start-up Aus believes that Australia
sectors.                                                   is not keeping pace with the rest of the world, has
                                                           “under-invested” in high tech industries, and this has
What:                                                      resulted in many technology companies leaving not
                                                           only regional areas but Australia generally in search
Digital Technologies are:                                  of talent, capital and a more supportive regulatory
                                                           environment.
•   driving innovation

•   changing the way businesses operate                    The digital economy supports diversification in a
                                                           high value low impact sector that has the potential
•   opening new channels to global markets
                                                           to have a substantial and positive impact on regional
•   a high value adding sector                             exports. It is a sector that embraces clustering and
•   an export focussed sector                              collaboration, that links strongly to education, and
                                                           which is a strong contributor to employment growth.
•   have a strong link to education and training.
                                                           Additionally Noosa boasts a range of co-working
We are in the midst of a global trend that signals a       spaces, serviced offices, networks, business mentors
paradigm shift in the way business is carried out,         and is home to a number of successful digital
including how business engages with its customers.         entrepreneurs.