In a world defined by constant changes to the economy, technology, environment and population, regions that position themselves to respond to these changes will be more able to succeed.
Regional Cities show very good innovative capacity on the whole. Industry and Service Hubs as well as Connected Lifestyle Regions show strong innovative capacity. They have good scores in the human resources in science and technology indicator and the research and development managers indicator respectively. Some of the most innovative areas are in the Heartland Regions, however on average the sparsely populated and remote heartlands struggle in this theme.
OUR GREATEST COMPETITIVE CHALLENGE – READYING NEW SOUTH WALES AND VICTORIA FOR REGIONAL INNOVATION
Despite having Australia’s most innovative capital cities, New South Wales and Victoria have relatively mediocre innovative capacity and output in their regional areas compared to other states.
In order for regional New South Wales and Victoria to benefit from the potential return of business, skills and investment back to the eastern states after the resources boom, these areas must put themselves forward as having competitive innovative capacity.
The Hunter RDAs “innovation scorecard” is an example of a regionally born initiative that could be used to assess and build innovative capacity in New South Wales and Victoria.