Leveraging innovation precincts to drive economic prosperity.

Jurisdiction: Australia

How might we build on interaction between businesses and research institutions in Australian innovation precincts, to boost business capability, growth, and job creation?

Innovation precincts are place-based innovation ecosystems. They usually have a widely understood geographic extent; a shared sense of identity amongst those involved; and a strong set of formal and informal networks and partnerships between people and businesses, researchers, education and training organisations and government.

There is strong evidence innovation precincts improve collaboration and innovation outcomes that contribute to business and economic growth. They facilitate sharing of resources, ideas, challenges and opportunities, and help businesses to access talent. They also create amenities and value for surrounding communities, and can contribute to urban renewal projects and drive regional economic growth.

There are many existing and planned innovation precincts in Australia. However, the scale of many of these precincts is much lower in Australia than in North America or Europe, and their full potential is arguably less widely understood. Some of the challenges and opportunities to consider are:

  1. Information on innovation precincts’ areas of specialisation and assets, along with local supply chain opportunities, infrastructure and human capital, can guide business decisions to establish or expand operations in a particular location. It can also guide governments to target infrastructure investment and program design.

  2. Successful innovation precincts are locally led and based on local competitive strengths, innovation potential and needs. They should be integrated into surrounding communities and into local, regional, national and international networks and supply chains.

  3. The value of innovation precincts in encouraging end-user focused collaborative research, commercialisation and innovation is not well understood.

  4. Finding suitable collaboration partners remains challenging and time consuming for both the research sector and industry, particularly for small businesses.

  5. To help Australian innovation precincts to mature and reach global scale, precinct leaders must grow their expertise and capability in developing effective precincts; and precinct partners must develop their collaborative capability.

  6. Innovation precincts need to articulate and market their research capabilities and competitive strengths, including internationally Stocktake of Australian Innovation Precincts – June 2019

Further Information
https://www.industry.gov.au/strategies-for-the-future/promoting-innovation-precincts

Eligibility: The dataset "Stocktake of Australian Innovation Precincts – June 2019" must be used

Entry: Challenge entry is avilable to all teams in Australia.

Dataset Highlight

Stocktake of Australian Innovation Precincts–June 2019
https://data.gov.au/dataset/ds-dga-3f3bfe13-96c1-459d-8ad4-53134c47cda5/details?q=

Sign in to enter your team into this challenge.

All Team Entries

Project Team Location
Audio, meet Building MALINGAring Fremantle
BizViz Bright Minds Albany
Burratown "data" Sydney
Energy Distribution for Resillience and Prosperity EDCRU - Energy and Data Crisis Response Unit Melbourne
History Box LOL Historians Launceston
Incub8 Australia Team SwitchCase Sydney
Innovation Impact Victory&Beyond Brisbane
JobsAndGrowth GrowthAndJobs Canberra
Jobs & Growth LMJD Pty Ltd Sunshine Coast
JOBY - Prosper the Labour Market Opportunity Monitor Fremantle
Move To Team Move To Noosa Peregian Beach
My Place Awesomely Cool Rockhampton
NICI Expósito - An Exposé Team Adelaide
No Fire Now NFN Gold Coast
OzMesh Team Vegemite Sydney
Small Biz Toolkit FruChocsX Adelaide
Small business solutions Business Complete | Analytics Lab Sydney
SpaceLab Enterprises KinderGeek Remote South Australia
STEM Trade N & M Brisbane
tell me a story Deep Fried Brains Melbourne
Understanding Innovation Precincts with BizValidator JOCAR Sydney
Visualising Land Use Electric Dreams Canberra
Wenergy WA Wenergy Bunbury

Back to Challenges