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The document discusses the changing landscape of innovation in the Wide Bay Burnett region, emphasizing the importance of new and small enterprises for sustainable regional growth. It highlights the role of key networks, successful initiatives, and the need for targeted support to foster startups and small growth companies. The strategic direction involves developing an innovation program to create a supportive environment for entrepreneurs, leveraging existing resources and networks.Ad
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- 1. Innovation in the digital economy Colin Graham Director, Causeway Innovation
- 2. Regions, Innovation and Competitiveness Innovation infuses economy... new ideas, products, services, technologies Vitality of economies depend upon creating innovation and competitiveness at the REGIONAL level Most important sources of prosperity are created, not inherited Clusters of 3 types of business: local, resource Innovation: Prof Michael Porter driven and TRADED
- 3. Regional Innovation System: Building Blocks Intellectual Capital Money and external business University students, staff and networks expertise University Hospital/s Banks Research Institutes Business Angels Regions people and business Venture Capital New arrivals Lawyers, Patent attorneys Accountants Marketing experts Professional Service firms R&D Advisory Services Place & Social networks Land, property and infrastructure People Environment and place Ideas and talent Architecture ≒Hidden treasures Science & tech buildings Serial entrepreneurs Blur boundaries Residents, migrants Innovation Centre Education & training Knowledge Precinct Entrepreneurial culture ICT Connectivity Trust Social & Business networks
- 4. Example initiative: Innovation Centre Sunshine Coast
- 5. Innovation Centre as a hub Investment raised ($M) 5.5 5.765 4.3 2.75 3.02 2.475 2005 2006 2007 2008 2009 2010 Key sectors: ICT Clean Technology Creative Industries Health technologies
- 6. Online engagement & trading in global markets Example Business: Foodmatters Based on Sunshine Coast, trading with world Virtual business 113,625 fans on Facebook Sold 100,000+ copies of movie: dvd & download Massive online community
- 7. Smart management of environment and infrastructure
- 8. Keys to success in regional innovation Importance of social and business networks Universities and research institutes as key regional economic assets talent flow Strong and relevant professional service firms Access to capital business angels to VCs Building a critical mass
- 9. Colin Graham Director, Causeway Innovation M: 0418 594 545 E: cgraham@causewayinnovation.com