Innovation precincts: a place in which to grow
An opinion piece by Julie Wagner and Bruce Katz from the Brookings Institution, published in The Australian on 10 May 2017.
In the piece, Wagner and Katz asks if Australia will be known in 15 years time for its global contribution in commodities, or will the nation reposition itself as a rising star in innovative growth?
The authors outline Brookings Institution research that “describes how a growing emphasis on collaboration is contributing to a new geography of innovation called innovation districts, or innovation precincts, across all global regions. In these enclaves, research-laden institutions and companies cluster in close quarters to foster conditions that lead to innovative growth”.
Wagner and Katz maintain that Australia’s universities can become drivers of this market-led innovative growth, citing the University of Melbourne’s biomedical and Carlton Connect innovation precincts as examples.
They also talk about universities beyond the Group of Eight that offer another model of anchor-led innovative growth, such as Macquarie University.