Held on 12 May at the Sydney Conservatorium of Music, the latest edition of Policy Talks brought together 50 experts from government and academia to explore how innovative approaches to public finance can help government meet its most urgent economic and societal goals.
Hosted by the Australian Public Policy Institute (APPI), the evening featured a keynote address from The Hon. Anoulack Chanthivong MP, NSW Minister for Industry and Trade and Minister for Innovation, Science and Technology, followed by a panel discussion and networking reception.
Minister Chanthivong outlined the state’s ambitious new direction under the NSW Industry Policy and Innovation Blueprint. He framed three major policy missions—achieving Net Zero, addressing the housing crisis, and revitalising the local manufacturing sector—as foundational to NSW’s future competitiveness and resilience. These missions, he explained, demand coordinated public investment and strategic partnerships to diversify the economy, particularly in light of NSW’s continued reliance on coal exports and the need for trade risk mitigation.
He stressed that long-term economic strength depends on regulatory certainty and the alignment of policy frameworks across departments and sectors. With Southeast Asia offering emerging market opportunities and the energy transition opening up new value chains, the Minister called for targeted public finance to derisk investments and attract private capital. This includes reimagining the role of government in driving innovation, particularly in underfunded areas such as quantum computing, robotics, and AI, and ensuring that NSW’s innovation system reflects diversity and inclusion.
Introduced by Professor Libby Hackett, CEO of APPI, the panel discussion provided a deeper look at how public finance can be structured to catalyse transformative change. Dr Natalie Curach, Chief Commercialisation Officer at HydGene Renewables, shared the company’s journey from a university student project to a fast-growing startup with a 15-member team. HydGene’s development was supported by a blend of government grants, public, and private investments totalling $13.3 million, demonstrating the crucial role of public support during high-risk, early-stage growth. She emphasised the importance of aligning with investors who share a commitment to sustainability, noting that remaining within the Australian innovation ecosystem provided both credibility and continuity for the business.
Paul Peters, CEO of the Energy Security Corporation, outlined the role of this new NSW Government investment fund, which is tasked with supporting firming and storage infrastructure critical to the success of renewable energy zones. The fund was designed to fill gaps that the private sector cannot address alone, such as early-stage deployment and business model risks, by offering concessional finance and taking on equity or subordinated debt positions.
Peters also emphasised the broader public policy role of government finance vehicles: not just backing individual projects, but shaping markets, attracting private capital, and providing the confidence needed to accelerate clean energy transitions. By strategically filling funding and risk gaps, public finance can ensure the timely delivery of critical infrastructure, from energy storage to advanced manufacturing.
Former Senior Policy Fellow Simon Rowell moderated the session, connecting these insights to the APPI report, “A Mission-Oriented Approach to Public Finance for NSW,” which outlines what a more proactive, outcomes-driven approach to public investment could look like to meet complex policy challenges.
About the Series:
Policy Talks is a collaborative series hosted by APPI in partnership with the NSW Policy Community of Practice. Launched in 2024, the series aims to foster a cross-sector community of policy professionals committed to inclusive, evidence-based policymaking. Previous speakers have included The Hon. Courtney Houssos MLC and Rebecca Pinkstone, CEO of Homes NSW.
