While you’re here… help us stay here.
Are you enjoying open access to policy and research published by a broad range of organisations? Please donate today so that we can continue to provide this service.
The Australian Government wants to foster economic growth, community development and sustainable job creation through higher levels of collaboration, research commercialisation and innovation – in the form of both innovative entrepreneurship, and innovation within existing businesses.
Domestic and international evidence shows that innovation precincts are of increasing importance in driving business and economic growth, and levels of collaboration and innovation. Australia is well placed to capitalise on these trends, for several reasons:
In response to this opportunity, the Government established a University Precincts Advisory Committee (the Committee) to consult and provide advice on whether a national innovation precincts strategy is needed and if so, what form Government action might take.
Based on the findings from national consultations, and advice from the Committee, the Australian Government has developed this flexible Statement of Principles, rather than implement a formal, prescriptive national strategy. The consultations reinforced the view that there is value in having a Statement that provides non-prescriptive guidance on best-practice with encouragement of bottom-up leadership to drive precinct development.
Furthermore, consultations indicated that the Statement should target ‘innovation precincts’ instead of ‘university precincts’, as its focus should not be restricted to encouraging the co-location of businesses on university campuses. The Statement therefore considers place-based innovation ecosystems more broadly.
This Statement of Principles for Australian Innovation Precincts recognises that: