A new policy direction for Australia
The Industry Growth Centres Initiative (the Initiative) is an industry-led approach driving innovation, productivity and competitiveness by focusing on areas of competitive strength and strategic priority. This will help Australia transition into smart, high value and export focused industries.
The Initiative enables national action on key issues such as regulation reform, skills, collaboration and commercialisation. It drives excellence, not dependence and will create an economy that ensures Australia’s ongoing prosperity.
The Initiative is ongoing with $250 million in Australian Government funding over the four years from 2016/17 to 2019/20. Growth Centres are being established to deliver the Initiative in six industry sectors of competitive strength and strategic priority:
The Growth Centres will also facilitate engagements between enabling services and technologies, such as Information and Communications Technology, where they provide essential and direct support to the growth sectors.
Growth Centres are not-for-profit organisations, led by a strategic board of industry experts who will oversee the operation of the Growth Centre.
While the Growth Centres will be flexible in their approach to addressing barriers to success, they are tasked with looking at four broad themes:
- Identifying regulations that are unnecessary or over-burdensome for the key growth sectors and impede their ability to grow, and suggesting possible reforms;
- Improving engagement between research and industry, and within industry, to achieve stronger coordination and collaboration of research and stronger commercialisation outcomes in the key growth sectors;
- Improving the capability of the key growth sectors to engage with international markets and access global supply chains; and
- Improving the management and workforce skills of key growth sectors.
Each Growth Centre will set a long-term strategy for its sector. This will be outlined in its Sector Competitiveness Plan, which will describe how to lift the capability of the sector, boost productivity and skills, create jobs, reduce red tape and engage with international opportunities.
Refer to the Industry Growth Centres Initiative Factsheet at the base of this page for more information about the Growth Centres Initiative.
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Industry Growth Centres Overview | Industry Growth Centres Overview
Industry Innovation and Competitiveness Agenda