We have plenty of innovators Thorn bird, however as long as the family home is capital gains tax exempt, investment will flow into the property market to the exclusion of everything else.
As for innovating in anything to do with aviation, with one exception, it's forbidden by CASA. The one exception of course being CASA and Airservices, who are into continuous regulatory innovation with the mission of developing new and innovative ways to destroy the aviation industry.
I wonder when the Enigma electronics guys will get sick of waiting for CASA to "accept" their cheap ADSB solution and move overseas? I note that Dynon and Garmin now have low priced FAA approved solutions, so Enigma has lost its time to market advantage, which was probably CASAs unstated intent all along.