According to the OECD, innovation provides the foundation for new businesses, new jobs and productivity growth and is thus an important driver of economic growth and development. Innovative economies are more productive, more resilient, more adaptable to change and better able to support higher living standards.
 
For this reason and because of Australia’s underperformance in areas that are indicative of an innovative economy, innovation has always been one of Regional Development Australia (RDA) Hunter’s three key priorities. RDA Hunter’s role as the region’s economic development organisation is to shape a vision for the Hunter’s strong economic future and lead initiatives to help achieve it. Since 2010, we have led work focused on advancing innovation, attracting investment and improving infrastructure. 

Our work in innovation has included:

• co-ordinating Hunter Innovation Festivals that aimed to connect innovators and inspire entrepreneurialism;
• scoping the business case for a regional innovation incubator model based on international best practice;
• creating Hunter Innovation Scorecards that measured and benchmarked the region’s innovative capacity;
• and developing the Smart Specialisation Strategy for the Hunter Region which is a regional masterplan for innovation driven growth.

Our leadership of regional innovation has attracted the attention of State and Federal Governments, international organisations and the Senate Economics References Committee which invited us to contribute to the 2014 Inquiry into Australia’s Innovation System.

Our role in innovation is big-picture and strategic. We look internationally for ideas and techniques that inspire and affect change; that challenge the region’s traditional thinking; and that provide aspirational targets. We also nurture relationships with international organisations like the EU, Invest Bavaria, Falling Walls and individual Embassies because we know that collaboration with countries that are achieving world’s best practice in innovation is important to inform our strategies and help raise the Hunter’s profile as a strong international contributor.

Our Smart Specialisation Strategy (S3) is based on an innovation framework implemented in the European Union to help its 190 regions qualify for innovation funding. It was launched by Prime Minister Turnbull in March 2016 and featured in the National Innovation and Science Agenda as an exemplar of best practice in innovation based regional growth planning.

One of the Strategy’s key recommendations is that the region works on strengthening its innovation eco-system to improve collaboration between industry, research and education to trigger innovative activity. It advocates for the establishment of physical innovation incubators and collaborative work spaces as well as a co-ordinating body to facilitate this collaboration.

RDA Hunter warmly welcomes all innovation initiatives that add to the Region’s eco-system. Recent announcements by the NSW Government of funding for incubators, the University of Newcastle’s launch of its I2N project and other such Council initiatives across the region will contribute to the progression of our Smart Specialisation; help achieve our plan for innovation driven growth to create high skills, high value jobs; and help maintain the region’s position as Australia’s largest regional economy.  

Visit https://rdahunter.org.au/initiatives/smart-specialisation