ACE research briefing paper 005: Global Entrepreneurship Monitor (GEM) - Australia 2011 National Report

This report maps the current state of entrepreneurship in Australia using data from the Global Entrepreneurship Monitor (GEM) for the year 2011. Entrepreneurship is regarded as a crucial driver for economic well-being. Entrepreneurial activity in new and established firms drives innovation and creates jobs. Entrepreneurs also fuel competition thereby contributing indirectly to market and productivity growth along with improving competitiveness of the national economy. Given the economic landscape that exists as a result of the global financial crisis (GFC), it is probably more important than ever for us to understand the effects and drivers of entrepreneurial activity and attitudes in Australia. The central finding of this report is that entrepreneurship is certainly alive and well in Australia. With 10.5 per cent of the adult population involved in setting up a new business or owning a newly founded business as measured by the total entrepreneurial activity rate (TEA) in 2011, Australia ranks second only to the United States among the innovation-driven (developed) economies. Compared with 2010 the TEA rate has increased by 2.7 percentage points. Furthermore, in regard to employee entrepreneurial activity (EEA) rate in established firms, Australia ranks above average. According to GEM data, 5 per cent of the adult population is engaged in developing or launching new products, a new business unit or subsidiary for their employer. Further analysis of the GEM data also clearly shows that Australia compares well with other major economies in terms of the ‘quality’ of entrepreneurial activities being pursued. Indeed, it is not only the quantity of entrepreneurs but also the level of their aspirations and business goals that are important drivers for economic growth. On average, for each business started in Australia driven by the lack of alternatives for the founder to generate income from any other source, there are five other businesses started where the founders specifically want to take advantage of a business opportunity that they believe will increase their personal income or independence. With respect to innovativeness, 31 per cent of Australian new businesses offer products or services which they consider to be new to customers or where very few, or in some cases no, other businesses offer the same product or service. Both these indicators are higher than the average for innovation-driven economies. Somewhat below average is the international orientation of Australian entrepreneurs whereby only 12 per cent aim at having a substantial share of customers from international markets. So what drives this high quantity and quality of entrepreneurship in Australia? The analysis of the data suggests it is a combination of both business opportunities and entrepreneurial skills. It seems that around 50 per cent of the Australian population identify opportunities for a start-up venture and believe that they have the necessary skills to start a business. Furthermore, a large majority of the Australian population report that high media attention for entrepreneurship provides successful role models for prospective entrepreneurs. As a result, 12 per cent of our respondents have expressed the intention to start a business within the next three years. These numbers are all well above average when compared to the other major economies. With regard to gender, the GEM survey shows a high proportion of female entrepreneurs. Approximately 8.4 per cent of adult females are actually involved in setting up a business or have recently done so. Although this female TEA rate is slightly down from 2010, Australia ranks second among the innovation-driven economies. This paints a healthy picture of access to entrepreneurial opportunities for Australian women.

The language of optimism : how entrepreneurs sell the sizzle in business plan offer documents

Existing macro level research on the new venture creation process recognises the entrepreneur as a central agent in the process yet generally avoids, at each stage of the process, an examination of the micro level psychological behaviour of the individual entrepreneur. By integrating two theoretical approaches to entrepreneurship research, the psychology of the entrepreneur and the entrepreneurship process, this paper examines, using content analysis, the language used by new venture founders in documents directly linked to their capital raising activity. The study examined the language of 108 offer documents (information memorandum’s) which were divided between 54 new ventures that were successful in raising capital and 54 new ventures that either did not proceed further or were not successful in raising capital through the Australian Small Scale Offerings Board. Specifically, we were interested in examining the level of optimism evident in these narratives given that entrepreneurs have been previously described in the literature as being excessively optimistic.

QUT Para at TREC 2012 Web Track : Word Associations for Retrieving Web Documents

Many existing information retrieval models do not explicitly take into account in- formation about word associations. Our approach makes use of rst and second order relationships found in natural language, known as syntagmatic and paradigmatic associ- ations, respectively. This is achieved by using a formal model of word meaning within the query expansion process. On ad hoc retrieval, our approach achieves statistically sig- ni cant improvements in MAP (0.158) and P@20 (0.396) over our baseline model. The ERR@20 and nDCG@20 of our system was 0.249 and 0.192 respectively. Our results and discussion suggest that information about both syntagamtic and paradigmatic associa- tions can assist with improving retrieval eectiveness on ad hoc retrieval.

Briefing paper on eTextbooks and third party eLearning products and their implications for Australian university libraries

The briefing paper was commissioned by the Council of Australian University Librarians (CAUL) to examine the current picture and evolving role of electronic textbooks (eTextbooks) and third party eLearning products in the academic arena. The study reviews industry trends, identifies the major players and considers the different stakeholder perspectives of eTextbook adoption. Within the context of learning and teaching in the digital age, specific areas of research, policy and practice are highlighted to consider the implications that eTextbooks might have for universities in general and for university libraries in particular. An environmental scan focused on the analysis of current developments and the anticipated future directions of digital learning resources in Australia, as well as in other major English speaking countries such as the United Kingdom and the United States. This research guided the development of key interview questions aimed at examining, at a deeper level, diverse stakeholder perspectives about the roles university libraries can play in the adoption of digital learning content.

Briefing: Limit states design of railway concrete sleepers

Recently updated information has raised a concern over not only the existing cost-ineffective design method but also the unrealistic analysis mode of railroad prestressed concrete sleepers. Because of the deficient knowledge in the past, railway civil engineers have been mostly aware of the over-conservative design methods for structural components in any railway track, which rely on allowable stresses and material strength reductions. Based on a number of proven experiments and field data, it is believed that the concrete sleepers which complied with the allowable stress concept possess unduly untapped fracture toughness. A collaborative research project run by the Australian Cooperative Research Centre for Railway Engineering and Technologies (RailCRC) was initiated to ascertain the reserved capacity of Australian railway prestressed concrete sleepers designed using the existing design code. The findings have led to the development of a new limit states design concept. This briefing highlights the conventional and the new limit states design philosophies and their implication to both the railway and the public community.

QUT_Para at TREC 2012 Web Track : word associations for retrieving web documents

Many existing information retrieval models do not explicitly take into account in- formation about word associations. Our approach makes use of rst and second order relationships found in natural language, known as syntagmatic and paradigmatic associ- ations, respectively. This is achieved by using a formal model of word meaning within the query expansion process. On ad hoc retrieval, our approach achieves statistically sig- ni cant improvements in MAP (0.158) and P@20 (0.396) over our baseline model. The ERR@20 and nDCG@20 of our system was 0.249 and 0.192 respectively. Our results and discussion suggest that information about both syntagamtic and paradigmatic associa- tions can assist with improving retrieval eectiveness on ad hoc retrieval.

Personal Injuries Proceedings Act 2002 s 27(1) – duty of respondent to give information and documents

In Hare v Mount Isa City Council [2009] QDC 39 McGill DCJ examined the scope of s 27(1) of the Personal Injuries Proceedings Act 2002 (Qld) and its interpretation by the Court of Appeal in Haug v Jupiters Ltd [2008] 1 Qd R 276. The judge expressed a number of concerns about the Act and the Regulation made under it, that are worthy of consideration by the Legislature.

Request for production of documents – UCPR r 222 – manner of compliance

In John Kallinicos Accountants Pty Ltd v Dundrenan Pty Ltd [2009] QDC 141 Irwin DCJ considered the nature of a party’s obligation under r 222 of the Uniform Civil Procedure Rules 1999 (Qld) (UCPR) to produce documents referred to in the parties’ pleadings, particulars or affidavits. The decision examined whether the approach in Belela Pty Ltd v Menzies Excavation Pty Ltd [2005] 2 QdR 230 in relation to disclosure of documents under UCPR r 214 also applied to production of documents under r 222.

UCPR r243 - notice of non-party disclosure - obligation to state allegation to which documents sought are directly relevant

In Deppro Pty Ltd v Hannah [2008] QSC 193 one of the matters considered by the court related to the requirement in r 243 of the Uniform Civil Procedure Rules 1999 (Qld) that a notice of non-party disclosure must “state the allegation in issue in the pleadings about which the document sought is directly relevant.”The approach adopted by the issuing party in this case of asserting that documents sought by a notice of non-party disclosure are relevant to allegations in numbered paragraphs in pleadings, and serving copies of the pleadings with the notice, is not uncommon in practice. This decision makes it clear that this practice is fraught with danger. In circumstances where it is not apparent that the non-party has been fully apprised of the relevant issues the decision suggests an applicant for non-party disclosure who has not complied with the requirements of s 243 might be required to issue a fresh, fully compliant notice, and to suffer associated costs consequences.

Configuring processes and business documents : an integrated approach to enterprise systems collaboration

Enterprise Systems (ES) provide standardized, off-theshelf support for operations and management within organizations. With the advent of ES based on a serviceoriented architecture (SOA) and an increasing demand of IT-supported interorganizational collaboration, implementation projects face paradigmatically new challenges. The configuration of ES is costly and error-prone. Dependencies between business processes and business documents are hardly explicit and foster component proliferation instead of reuse. Configurative modeling can support the problem in two ways: First, conceptual modeling abstracts from technical details and provides more intuitive access and overview. Second, configuration allows the projection of variants from master models providing manageable variants with controlled flexibility. We aim at tackling the problem by proposing an integrated model-based framework for configuring both, processes and business documents, on an equal basis; as together, they constitute the core business components of an ES.

The heterogeneous cluster ensemble method using hubness for clustering text documents

We propose a cluster ensemble method to map the corpus documents into the semantic space embedded in Wikipedia and group them using multiple types of feature space. A heterogeneous cluster ensemble is constructed with multiple types of relations i.e. document-term, document-concept and document-category. A final clustering solution is obtained by exploiting associations between document pairs and hubness of the documents. Empirical analysis with various real data sets reveals that the proposed meth-od outperforms state-of-the-art text clustering approaches.

Addressing the impediments copyright imposes on the use of patent specifications and prior art documents to improve patent quality

This article considers from an Australian perspective the impediments that copyright law places in the path of those who seek to use patent specifications and non-patent prior art documents in ways that are necessary to the proper functioning of the patent system. Until recently, copyright law in Australia had limited the uses to which members of the public could put patent specifications in that country. Those impediments have been removed as a result of an important legislative change to the way in which copyright in patent specifications can be enforced. The change gives the public a greater freedom to make use of patent specifications than it enjoyed before, and removes unwarranted restrictions upon the ways in which the public can reuse valuable information. However, what the amendment does not address is the impediments copyright imposes on using non-patent prior art documents in ways that advance the public interest.

Copyright in patent specifications and prior art documents: Addressing legitimate rights of user

One of the recent Raising the Bar amendments has removed impediments imposed by copyright law that may have limited the uses to which IP Australia and members of the public could have lawfully put patent specifications without seeking permission from the copyright owner. What the amendment does not do, however, is extend the same protections to those who wish to use prior art documents in ways that benefit the patent system and further the public interest.

Using the quantum probability ranking principle to rank interdependent documents

A known limitation of the Probability Ranking Principle (PRP) is that it does not cater for dependence between documents. Recently, the Quantum Probability Ranking Principle (QPRP) has been proposed, which implicitly captures dependencies between documents through “quantum interference”. This paper explores whether this new ranking principle leads to improved performance for subtopic retrieval, where novelty and diversity is required. In a thorough empirical investigation, models based on the PRP, as well as other recently proposed ranking strategies for subtopic retrieval (i.e. Maximal Marginal Relevance (MMR) and Portfolio Theory(PT)), are compared against the QPRP. On the given task, it is shown that the QPRP outperforms these other ranking strategies. And unlike MMR and PT, one of the main advantages of the QPRP is that no parameter estimation/tuning is required; making the QPRP both simple and effective. This research demonstrates that the application of quantum theory to problems within information retrieval can lead to significant improvements.

ACE research briefing paper 007 : Ken Talbot - an entrepreneur's contribution to the growth of the Australian Mining Industry

Ken Talbot was one of Australian mining’s most successful entrepreneurs and rose to the top of his industry to become one of Australia’s wealthiest men. Although the nation’s resources industry is synonymous with global names such as Xstrata, BHP Billiton and Rio Tinto, Ken was an individual who made a big impact on the development and growth of the sector. This case study examines Ken’s achievements, his transition from employee to entrepreneur, and the qualities that enabled him to succeed at such a high level. In particular, it focuses on his Jellinbah and Coppabella mining developments that directly led to the creation of Macarthur Coal and the Talbot Group. By the time of his premature death in an African plane crash in 2010, Ken had amassed a fortune estimated at almost $1 billion and was aged just 59. The last publically available Talbot Group annual report for calendar year 2009 showed that the investment portfolio of the group returned 113 per cent that year. Even throughout the global financial crisis the portfolio made a positive return on investment of no less than 10 per cent. Ken’s sense of mateship and his tremendous people skills were keys to his success in the mining industry and the wider community. In addition to excelling in business, he is also remembered for his philanthropy and leaving 30 per cent of his estate to charity through the Talbot Family Foundation.