Mark Hughes is an Australian businessman and one of the founding members of the Irish Life Science Museum.
He is a professor of life science at the University of Technology Sydney, a lecturer at Trinity College Dublin and a former member of the Australian Parliament.
His book, How to Become an Entrepreneur, is published by Penguin Random House.
Hughes was interviewed for this program about entrepreneurship, business, science and innovation.
It is the first in a two-part series on the future of innovation in Australia.
First up is the subject of innovation.
How do you define innovation?
The phrase has been around for centuries and I’ve always had an image of it being about the creation of something new, new products, new technologies.
The real question is, what do you do once you’ve created something?
It’s a question that has been asked in all kinds of different contexts.
We all have the idea of a product.
It’s the product that you buy and you use.
If you’re a scientist, if you’re an engineer, you have a vision of what you want to do.
In the early years of the 20th century, there was a very intense debate in the UK about how we define innovation.
The debate has been about whether you should be defining innovation as the new products that you’re creating or the products that are being developed.
The idea of innovation has been changed by the internet.
If we’re going to develop an innovation-led society, we need to understand the value of that innovation.
So innovation in the first place has to be defined as a new product.
The reality is that the internet has changed how we think about the definition of innovation, and that is fundamentally a new form of information.
What does it mean to create something?
We don’t have a defined definition of something yet.
What we do know is that it is a new way of creating something, and so when you start creating something you create something that you think is worth having.
You make something that is valuable to you.
What is valuable in this context is that you create the thing that you want, not what you’re trying to sell.
It takes a new set of values and you have to understand them to do it.
You have to know what you are trying to create, you understand what it is you’re doing, you see it as valuable to yourself, and then you put the effort into it.
The key thing is to understand what you create, what it means to you, how you value it and then to get to know your customers.
Is it good?
I think it depends on your definition.
Is the product really useful?
Is it worth doing what you need to do to create it?
What is its value?
Does it actually have a purpose?
The best product, the most useful product, is one that has value to the customer.
I don’t think there’s a good definition of that.
In order to create a good product you have got to understand how that thing works.
That’s the most important thing.
The only thing you can really say is what you believe to be the purpose.
If it’s not, you’re wasting your time and the money you spend.
That was one of my arguments when I started to build the company.
The purpose is really important.
It needs to be a positive, life-changing value.
If the product is not what it was designed to be, the purpose is not going to be there.
And if the purpose has been lost, the product can’t work.
In other words, you’ve got to do what you think will make it better.
The most important things in life are things that are worth living for, and you can’t create that for nothing.
So what are the things you want the most to be in life?
Things that you can get value from?
That is what the purpose of the product should be.
If I’m going to get value out of it, it needs to have value.
You can get the best thing out of anything that you have created, so what you really want is a good outcome.
The value you get from something is something that should be shared with others.
You’re going be sharing that with your children, with your partner, with their family.
It doesn’t have to be something that they will take for granted.
So the more valuable the thing you’re going into, the more value it will have.
And the more important it will be to others.
The goal of the company is to make that happen.
How will that happen?
How do I get the most value out, I’m trying to do the best I can?
I know that my work will be good, but I’m also going to make a difference to people.
I’m not going in to a new area and just be the next Steve Jobs.
I’ve had success at the moment, but it’s a long way from that.
I need to be