| Goal | Indicator | Mechanisms | Outcome |
|---|---|---|---|
| Harness the research and development capacity of Melbourne's universities to develop the city's knowledge economy and society. | Discoveries and technologies that are actually commercialsied and producing recurrent revenues | Develop a knowledge transfer centre that aims to bring the eight metropolitan universities and the various arms of the commercialisation community together | A strong culture of knowledge-intensive collaboration and commercialisation |
| Foster knowledge business clusters and networks | Increased level of collaboration between industry, education institutions and government around "skills". A new generation of entrepreneurs |
Use of 'skills ecosystems' to drive the regeneration of skills within industry and increased collaboration between industry, education institutions and government. Registration of entrepreneurs with a cenrel knowledge-transfer hub/centre. |
A network of world class industry-specific Centres of Excellence across the city that are focused on Melbourne's international strengths, such as biotechnology. |
| Increase the level of creativity, innovation and enterprise in private and public sector organisations to improve productivity and development. | Increased devolution of public sector activities that increasingly harnesses the talents of researchers and industries specialists as well as bureaucrats | An innovative, flexible and decentralised public sector that is able to be responsive to the needs of Melbourne as a knowledge capital | |
| Foster development of local and global business partnerships, networks and alliances. | Increased recurrent revenues from discoveries and inventions | A strong culture of commercialisation and business development activity, particularly in a few key sectors | |
| Promote Melbourne's knowledge capability nationally and internationally. | Increased interest from overseas institutions, particularly venture capitalists | Map Melbourne's innovation networks in a collaborative project of government, business and universities. Agreement from the eight universities of the key priority areas, which would become the basis for international marketing efforts aimed at solidifying Melbourne's reputation in these areas. |
A cogent, recognisable "story" that articulates Melbourne as one of he genuine knowledge capitals of the world, drawing extensively on our divesity and dynamic lifestyle |
| Melbourne is one of the world leading cities for scientific research with leading facilities and therefore is a key destination for international academics and researchers. | Increased placement of international researchers in Melbourne | Attractive packages to entice key researchers in Melbourne's key sectors to spend sabbatical periods in Melbourne. | Melbourne as the home of research within Australia is underpinned by the best facilities in Austrlia. New "knowledge-based" facilities could be based at yet-to-be developed West Melbourne railways area. |
| Increase venture capital investment in the knowledge economy. |
Level of venture capital (either from Austrlia or overseas) used to develop local discoveries and inventions | Use a single knowledge transfer centre as the 'hub' for commercialisation activity in Melbourne | A vibrant culture of commercialisation that is not dependent upon public sector investment |