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Statement of Principles for Australian Innovation Precincts

There are many active and planned innovation precincts in Australia.

Successful innovation precincts encourage collaboration and innovation. This promotes sustainable economic growth and job creation. Precincts also deliver business and social benefits.

Australia has world class universities, researchers and science infrastructure. We have highly liveable cities and a range of competitive industries. We can build on these assets through innovation precincts.

Based on research and consultation, the Statement of Principles for Australian Innovation Precincts provides best-practice advice to drive successful development of innovation precincts.

The statement has four principles, which emphasise the importance of:

  • local leadership in innovation precinct development
  • removal of barriers to align policy
  • building up capability and connections
  • coordinating skills development within innovation precincts

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A collaborative approach

Innovation precincts are more likely to succeed when local leaders work with businesses, universities, science agencies, and governments to build on local strengths.

State and territory governments agreed to the principles outlined in the statement at the COAG Industry and Skills Council meeting in April 2018.

The Australian Government will work with innovation precinct leaders, and state and territory governments, to promote best practice.

The Government will:

  • consider innovation precincts and place-based approaches in regional and urban development
  • help innovation precincts market themselves better
  • work with state and territory governments to use existing networks, expertise and experience
  • encourage innovation precincts to share best practice
  • encourage innovation precincts to consider local industry needs
  • monitor the impacts of reforms and ongoing innovation precinct development
  • consider the case for further policy intervention

We would like to thank the University Precincts Advisory Committee for its work throughout 2017, and stakeholders that provided input. The Statement of Principles for Australian Innovation Precincts reflects this work and input.

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Last updated: 5 October 2018

Content ID: 45426