As part of the ‘Plan for Australian Jobs’ announced in February this year, the Federal Government hopes to establish Industry Innovation Precincts to foster collaboration between businesses and researchers. Manufacturing and Food Precincts have already been announced, leaving open the possibility for establishing eight further Precincts.
Precincts will be determined by a two stage competitive selection process, and applications for Stage 1 of the process are now open until 5 June 2013. Further information about the application process can be found here.
- have access to approximately $500 million in funding,
- create national business-led networks that build critical mass across both physical and virtual groupings,
- provide support to business through the Growth Opportunities and Leadership Development (GOLD) program,
- have exclusive access to project funding (estimated at $50 million per year) through the Industry Collaboration Fund,
- encourage businesses in all locations to participate through the digital Industry Innovation Network, and
- also have a direct relationship with the Australian Research Council's $236 million Industrial Transformation Research Program which will fund projects that are directly related to the priority research areas identified by Precincts.