Macquarie University awarded $1 million Innovation Grant

17 August 2016

Macquarie University to launch stage one of Business Innovation Centre this September

The NSW Government has awarded Macquarie University a $1 million grant to enable the University’s plan for the development of the Macquarie University Business Innovation Centre.

The primary focus of the Macquarie University Business Innovation Centre will be to stimulate, drive and nurture innovation through process improvement and product development. Aimed at entrepreneurs and start-ups, SMEs, government agencies, and other industry in the Macquarie Park and North Sydney Region the centre is predicted to be a thriving hub of innovation.

The $1 million Government funding will contribute part of the cost of establishing a Business Innovation Centre on the University’s campus. Stage one, which includes the creation of a pop-up space in an existing University building, is expected to be up and running by September 2016.

David Wilkinson, Deputy Vice-Chancellor (Corporate Engagement and Advancement), Macquarie University said, “This dynamic partnership between Macquarie University and NSW Government will provide a suite of entrepreneurial opportunities at Macquarie Park. We are providing facilities and programmes to equip entrepreneurs with the skills to be successful in their businesses.  This co-investment allows us to work with the local and wider communities to inspire and provide opportunities that highlight existing strengths and future ambitions, encouraging diverse, creative, and innovative solutions to the pressing challenges of our times.”

The pop-up Macquarie University Business Innovation Centre will foster research collaboration, intrapreneurship training opportunities, outreach activities within the local community and access to technical equipment such as 3D printers.

The Centre’s prime location within Sydney’s Global Economic Corridor will enable it to draw on the wealth of pioneering research and global business expertise from within the local area.

NSW Minister for Small Business, John Barilaro said, “The Macquarie Park Innovation District (MPID) is a fantastic example of the kind of innovation we’re driving in NSW to encourage and strengthen the businesses that will create the jobs of the future,” Mr Barilaro said.

“This funding will help to accelerate local industry development and support better research and business networks.”

A more permanent 1,500 square metre Innovation Centre, located on the south-west of the University’s campus will be constructed and operational from April 2017. This purpose-built facility will include flexible work spaces, an exhibition space and recreational space to promote and support engagement.

Once up and running the Macquarie University Business Innovation Centre will form an integral part of the Macquarie Park Innovation District as the first major step towards its establishment.

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