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Marshall's plan to make Adelaide a "magnet" for under-40s

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Premier Steven Marshall is asking South Australians under the age of 40 to help him develop a strategy to attract young entrepreneurs to the state.

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Dubbed “ForceForty”, the program has begun with the Premier inviting 40 South Australians under the age of 40 to an event in late July, to help him develop a “clear identity” for the state which resonates with young global talent.

The advice from the group will be used to develop a strategy under “The Magnet State” project – a concept based on a KPMG study of so-called “magnet cities”. These cities were defined by the consulting group as places that have gone from repelling young people to attracting them.

The concept is similar in name and goals to InDaily’s 40 Under 40 project, now in its third year, which aims to identify and award young South Australian entrepreneurs who are making a difference in the state.

The alumni from 40 Under 40 are increasingly seen as a powerful resource for the state. Last month, Lord Mayor Sandy Verschoor hosted the 40 Under 40 alumni at Town Hall, inviting them to share their ideas about how to ensure Adelaide can remain a creative and liveable hub in the future.

InDaily asked the Premier about the “ForceForty” program after several young entrepreneurs posted invitations to a late July event on social media.

“ForceForty is focused on attracting young entrepreneurs to South Australia,” a Government spokesperson replied. “It forms part of The Magnet State project, and is targeting talented under 40s from all around Australia. It ultimately forms part of the government’s broader population strategy.”

The guest list draws on people from a range of industries and occupations, including some previous winners of InDaily’s 40 Under 40 Awards.

The Government has indicated it will include 40 Under 40 alumni in testing and refining the ideas that are developed at the event.

Just received a mysterious black package inviting me to be a part of FORCE FORTY by the Premier of South Australia…. @…

Posted by Miriam Holme on Monday, July 13, 2020

The Government said it had allocated $400,000 to the Magnet State project in 2019-20 and 2020-21, of which ForceForty is a part.

Earlier this year, Marshall praised 40 Under 40’s role in elevating the voices of young South Australians.

Marshall said that one beneficial outcome of the 40 Under 40 Awards was the formation of its alumni group, which now groups 80 past winners into an effective network of young leaders.
“One of the things that’s come out of 40 under 40 is a realisation that there are a lot of very talented people in South Australia,” he said.

The InDaily’s 40 Under 40 Awards for 2020 have so far attracted 419 referrals that have led to 133 nominations.

The 12-member judging panel is set to meet at the beginning of August and is chaired by David Rohrsheim, who returned to Adelaide in March to manage the $50 million South Australian Venture Capital Fund.

The panel will judge the nominations against selection criteria based on their impact within a business, industry or community and how they push the boundaries to go above and beyond the norm.

These finalists will then be in the running for awards, which include business coaching, supported by corporate partners Piper Alderman, KWP!, William Buck, OTR, Community Corporate, ANZ, Adelaide BioMed City and the City of Adelaide.

Winners of the 40 Under 40 Awards then become members of the alumni networking group that has helped many of the businesses connect and develop new ideas and products.

Nominations are open until the end of July and the awards event will be held on October 15.

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