Innovation districts are geographically dense areas within or at the fringes of metropolitan centres where public and private Research and Development (R&D) focused anchor institutions cluster and connect with funders, businesses of all stages and sizes, business incubators and accelerators.
Innovation districts are multi sector focused, allowing for the convergence of ideas, technologies and sectors creating new industries, and stimulation for new business model innovation and technology adoption in existing industries.
Innovation districts are physically compact, transit-accessible and technically wired, offering a mixed-use housing, office and retail.
An innovation district is often made up of several sector focused innovation precincts.
As magnets for investment in health, research and education, Innovation districts will generate jobs, connect us globally, become sought-after places to live and work, and continue to develop NSW's highly skilled workforce for the future.
An interconnected ecosystem of innovation districts linked to places of learning will supercharge knowledge jobs across the region while supporting the broader jobs economy.
Innovation districts are engine rooms of ideas, invention and collaboration, and they are connected to local industries, higher education institutions and Vocational Education and Training (VET). People can easily access local education and development opportunities and smart, secure jobs, many in the growing knowledge economy and international trade.