Introduction

Innovative cities drive economic growth, deliver new jobs, and create thriving communities for residents to live, work, play, invest and visit. Precincts and districts catering for innovation are being created around the world as new examples of communities that have excellent amenity, great access to transport, affordable housing, civic facilities, and provide the types of jobs that will sustain a 21st century economy.

In 2016, the Future Cities Collaborative is committed to exposing Australian city-shapers to international best-practice examples of innovation districts in the United States. This coincides with the Australian Government launching the National Innovation and Science Agenda to embrace new ideas in innovation, harness new sources of growth, and challenge city-shapers to look for new ways to transform our cities and create a modern, dynamic, 21st century economy.

With federal, state and local governments all seeking to encourage and expand the innovation economy in Australia, now is the time to look to the United States for lessons on how to plan, finance, implement and support innovation districts in our cities. The Exchange examined the various elements that contribute to the success of an innovation district — from the physical infrastructure to the social, economic and cultural shifts that need to occur to generate a thriving innovation ecosystem that creates jobs in the new economy.

Specifically, the Exchange examined:

• the role local and state governments play in establishing successful innovation ecosystems;
• the elements and ingredients of successful innovation ecosystems;
• the intersection of physical space and smart city initiatives that underpin the innovation ecosystem; and
• the role played by research organisations and universities in anchoring innovation ecosystems, providing incubator and start-up labs, and assisting in the commercialisation process.