Innovation Policy
Since 1999, we have invested $1.8 billion in innovative initiatives – one of the largest commitments of its kind of any Australian State or Territory.
Victoria’s Science, Technology and Innovation (STI) initiative has supported community awareness projects such as the Australian Synchrotron, the largest piece of national research infrastructure investment. The STI initiative has also provided support for the establishment of an Australian Science Media Centre to promote better science reporting in the media, and it funds the Victorian Endowment for Science Knowledge and Innovation (VESKI), a company established to enhance Victoria’s intellectual capital by supporting the return of talented expatriates.
In the field of biotechnology, we are seeking to establish Victoria among the world’s five leading locations for research and commercialisation. Through the Biotechnology Strategic Development Plans, the Government’s Life Sciences Statement Healthy Futures, and initiatives such as the Victorian Neurotrauma Initiative, the Victoria Israel Science and Technology R&D fund and Operational Infrastructure Support grants for our medical research institutes, we are well on track to meeting this important goal.
Our Government continues to support our diverse screen industries to the benefit of our economy and culture. We’ve established film studios in the Docklands precinct, which are attracting large-scale productions like The Pacific to Victoria. We’re investing additional support in the Melbourne International Film Festival and in our digital media industries.
Our recently released Design Victoria Strategy aims to increase the use of design to increase innovative capacity, competitiveness and export performance, to build Victoria’s national and international reputation as a centre of design leadership and to create a world class body of knowledge detailing the impact of design on the Victorian economy and how design is used by firms to deliver economic and other benefits.
