Macquarie Park Innovation District (MPID)
Transforming the Macquarie Park precinct (including Macquarie University, Macquarie University Hospital, Business Park and Shopping Centre) into a globally recognised ecosystem creating innovative solutions benefiting the local and international community
|Outcomes and impact of the case
Macquarie Park Innovation District is a new development that is in early growth stage, but already there are tangible benefits beginning to be realised. One of which is the recently announced Optus Macquarie University Cyber Security hub which represents a strategic co-investment of double digit millions between Optus and Macquarie university.
The Cyber Security Hub takes a holistic approach to cyber security, focusing on how cyber-crime is perpetrated, how it affects the economy, and how it can be effectively addressed.
The hub provides a variety of products and services including: Education and workforce development services, Research, Thought Leadership. The hub is open for other partner companies and institutions to join.
Other early indicators include a large collaboration between two companies in different industry verticals coming together to research and build solutions that benefit both. Another company is undertaking the global launch of a robot on the park in October. Already there are three startups located in our incubator with demand growing rapidly. (By the time of submitting the final paper we will be able to show more success and share company names).
We are currently undertaking an economic impact study of the impact of MPID against a number of metrics including economic, innovation and collaboration. This study is being undertaken by one of the ‘big four’ consulting firms and again by the time of submission there will be an impact dashboard that we can share.
The conclusion of the MPID program is that efforts to drive collaboration and innovation in an isolated format typified by traditional university technology transfer offices can only obtain a certain level of success. By creating an ecosystem of collaboration and innovation real benefits can be created for the university, partner companies and the local community.