I can't see this taking off. We've had DSTO before n with the history of buying things and 'australianising' aka f*ing things up (ie. The seasprite helicopters), plus frequent budget overruns with defence purchases - i don't thing an aussie DARPA would be successful. In fact, while I was in defence, they were trying to convince them to buy stuff that works off the shelf rather than trying to be tricky.
Like our approach to shares vs the US approach, we lack the necessary willingness to engage with risk and the foresight to see potential that the US have. DARPA is a uniquely US concept I'm afraid.
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