SYDNEY — Whether “starting from scratch” or repurposing an existing precinct, a successful innovation ecosystem requires four key elements to succeed, according to a new report released by integrated infrastructure firm AECOM.
The Transforming Australian Cities with Innovation report, launched last night in Sydney, found the best economic and societal outcomes are achieved when government provides a flexible platform and vision for commercial, residential and academic tenants through integrated planning for transport, technology and essential services.
James Rosenwax, AECOM Australia & New Zealand cities leader and report author, who recently returned from the Australia City Exchange on Innovation Ecosystems with the Future Cities Collaborative, an initiative of the United States Studies Centre at the University of Sydney said, “Experiencing the thriving innovation ecosystems of Boston, New York City, Philadelphia, San Francisco and Seattle provided some great insights that we have brought together in a single report.
“AECOM’s Brilliant Cities strategy is committed to bringing global best practice to Australia and by doing so enhancing the capability of key influencers leading Australia’s innovation agenda.
“This includes advice on new funding models, community creation techniques, future transport planning and most importantly, direction in how to facilitate better collaboration between industry, academia and government.”
“Without clear leadership and clarity of purpose, we are leaving the outcomes to chance. As we transition away from a resources driven boom, Australia cannot afford to fall behind in what is a global battle for the investment and talent required to establish a thriving innovation ecosystem.”
“Innovation ecosystems, unlike the office-hours only business parks of yesteryear, have the capacity to be more than just places of work,” continued Rosenwax. “We should strive to create places that redefine a city, improve overall livability and become self-supporting platforms for high growth businesses.”
The new report was launched on 8 September in Sydney and is now available to download.
Watch the Growing the Australian innovation economy video featuring highlights from the City Exchange
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