A FAst HistorY
oF FAst tHinKing
– And tHe world
oF innoVAtion
2003 – IXC (InnovationXchange
Network) launches with funding
from the Howard government’s
Backing Australia’s Ability scheme
via AusIndustry and AiGroup
support. Founder Grant Kearney’s
vision of the need for a formal
approach to urging innovation
for corporates and government is
accepted by the latter as a national
priority.
2004 – A major web portal and
series of events draw together an
unprecedented mixture of duespaying
senior individuals and
corporates, including Electrolux,
IBM and Procter and Gamble.
A community is founded. This
community requests a magazine.
2005 – ETN-COM’s 25 year
history of publishing on
innovation and multimedia
experience urges invitation
by IXC to take publishing
responsibility for a new magazine
called Fast Thinking. ETN
conducts major research, builds a
‘new wave’ business model using
web and print together. Creates
an unprecedented B2B-consumer
magazine hybrid, following
research discoveries, and
anticipating continued changes
in reader and media behaviour.
Designed as a quarterly with
special editions.
2005 – Fast Thinking is launched
and is immediately successful
in terms of reader response,
newsstand sales, subscriptions
and sponsor support. Chairman
John Keeney notes: “Innovation
is neither a fad nor a trend
but has become a permanent
feature of business and will
evolve and extend rapidly.”
Editor Tim Mendham formalises
an editorial structure around
specific objectives and necessary
flexibility. Describes innovation
as both “a science and an art
which requires specific tools to be
provided by the magazine”.
2005 – IBM completes a major
worldwide survey of 750 CEOs
in 13 countries on innovation.
Vast majority of interviewees cite
innovation as a top priority. Fast
Thinking publishes a book on this
cornerstone survey. An explosion
of interest occurs in corporate
innovation in multiple forms
globally, especially in OECD
nations.
2006 – Fast Thinking wins Bell
Award for Best B2B magazine
and – unprecedented – finishes
second in overall consumer
category. Unique ‘hybrid status’
is confirmed by readers and
advertising agencies, as well as
sponsors.
2006 – Roy Morgan survey
explores and validates great
reader devotion and highly
impressive demographics of FT
readers. Newsstand sales and
subscriptions grow apace.
2007 – Fast Thinking receives
unsolicited request from Barnes
& Noble for extensive US
distribution, citing that there is no
equivalent magazine in America.
World distribution to over 20
countries follows through Pansing
IMM, the largest distributor of
Australian magazines worldwide.
2007 – The new Rudd
government creates the mega
department of Innovation,
Industry, Science and Research
headed by Senator Kim Carr.
Fast Thinking notes that this
is a long overdue and very
positive alignment of the various
portfolios with a convincingly
appropriate leader.
2008 – Dr Terry Cutler heads an
extensive National Innovation
System Review enlarging on
similar national studies in the UK
and US, as an urgent requirement
of the Rudd government.
2008 – Fast Thinking launches
digital edition which is
complimented for its clarity and
usability, following massive uptake
of this methodology and the
CEROS technology in US and UK.
2008 – In a Fast Thinking
article, Minister for Innovation,
Industry, Science and Research
Kim Carr reflects an aspect of
the magazine’s mission: “In
(innovation) all of this, the
humanities, arts and social
sciences are critical.”
2008 – Social innovation becomes
defined by the Australian
Government, IXC and other
significant parties as an important
new avenue.
2009 – Fastthinking.com.au
embarks on a major international
innovation links library, extensive
blogging program, along with
article archive feature.
2009 – Steve Ballmer, CEO of
Microsoft, states at Consumer
Electronics Show (CES),
regarding current economic times:
“At the end of the day it is the
power of ideas and innovation
that drive us forward regardless
of economic environment.”
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