INNOVATION & REGIONAL DEVELOPMENT

MINING the ISA CONFERENCE

10th October 2012

Ian Ogden ~Innovative Regions Facilitator, CQ.

Dept Innovation, Industry, Science, Research & Tertiary Education

Why Innovation?

�Innovation drives productivity growth and

competitiveness of firms

�Innovation promotes social inclusion through

expanded opportunities

�Innovation will contribute to achieving environmental sustainability

An innovative region …

….is one with the capacity to profit from new knowledge

We own the agenda!

Innovation requires a different perspective

There is a need for government to utilise regional capital to coordinate agendas across the innovation, regional development and sustainability areas.

Cross disciplinary innovation and interventions are the likely enablers of maximum regional value.

Collaboration and Connectedness…

“Sustainable economic, social and environmental innovation is the product of collaboration and networks

rather than the lone inventor, the inspirational community leader, or a single policy initiative”

Innovation is found in the place that talented people believe is the best place for their brilliant ideas to be

picked up and where they can socialise and work with other

talented people

Are there ways to improve our regions ability to do this?

The CQ Innovation Prospectus

The CQ Innovation Accord

• A regional agreement and commitment to foster innovation in all aspects of regional progression and development; signed by 150 regional leaders from industry, government and community

Establishing a Regional Collaborative

• Not to duplicate or replicate

• Recognise the free market as the 'doer'

• Focus on tangible outcomes

• Shared investment, shared benefit, shared risk

• Agglomeration of supply and demand (human

capital) through collaboration and connectedness

• Playing to the strength of every participant

Implications for Regional Development

• Regional innovation needs to be at the core of economic strategies

• – does the strategy strengthen the regions' ability to innovate and compete in the global market place?

• Economic development must reflect the changing nature of business development in the global economy

• – is the strategic approach based on an open innovation model where the region seeks innovation assets, ideas, talent and capital from many sources (external as well as internal)?

What is Enterprise Connect?

Enterprise Connect is an Australian Government initiative whose core service is designed to help small‐‐‐‐to‐‐‐‐medium sized businesses (SMEs) acquire the knowledge, tools and expertise to improve productivity, through its two components;

• manufacturing centres and

• innovation centres.

Together this national network of 12 centres provide a range of services for eligible SMEs to access expert, practical advice and support which is tailored to their individual firms

Thank You.