Innovation Strategy Territory

Darwin Innovation Hub are proud winners of the Innovation Champion award for our leadership in developing the Territory Innovation ecosystem, and Innovation Leader award by way of the Compute Facility achievements through the Digital Partnership Program.

Innovation industries are expected to make up 10 per cent of the Territory’s $40bn economy by 2030.

In its latest innovation strategy, released this March, the Territory Government outlines how a $4bn innovation economy will be achieved by the end of the decade.

Underpinning the strategy is that commercialisation of innovation creates new wealth.

Jobs and Training Minister Paul Kirby said the strategy will create opportunities to maximise the sector and grow the economy.

“Innovation leads to new businesses, new jobs and drives economic development in the Territory,” he said.

“The Territory Business Innovation Strategy 2.0 will help unlock the Territory’s economic potential to become a competitive, global business destination.

“We want to empower Territorians to innovate and strengthen business to business and industry collaboration.”

Key to the strategy and long-term growth and development of the sector is amplifying the economic value of science and growing the next generation of science, technology, engineering and maths (STEM) innovators.

An independent report by two leading science academies will look into innovation opportunities, a new forum, the NT Science Forum, will support engagement between scientists in the public and private sectors and academia and the importance of science in the development of public policy will be increased.

Science leaders will have greater support.

Public sector innovation are also central, including improvements in public administration, operations and the value provided by Government investment, including with third parties.

“This priority supports our public sector agencies and members to come up with new ideas, try new approaches and work in new ways,” the strategy said.

The development of interagency working groups to set priorities, training, Department of Industry, Tourism and Trade innovation led projects and support for digital tools to assist innovators with information flow are also a focus.

Programs including the Territory Innovation Challenge, the Business Innovation Program, Business Acceleration Program and Digital Partnership Program will be retained and enhanced to support growth. These programs are partnered or supported by the Darwin Innovation Hub.

Local innovation clusters will be established to engage collaboration between Territory and to boost research and development to supply solutions to Territory challenges.

Regional business opportunities will be won by partnering with Territory businesses and industry to win investment.

Source: NT News

The Darwin Innovation Hub will help you grow your business. We facilitate business growth by providing expert advice and access to grants and funds:

With our Compute Facility, we assist companies commercialise their research. Our venue is equipped with a high tech Data Lab and Research & Development Facility providing businesses access to a 1GB internet (scalable up to 10 GB) data connection via AARNet. Find out more here.

Find out what other services Darwin Innovation Hub offers here.