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NSW innovation precincts to lure cutting-edge companies

Investment NSW

The state’s innovation precincts will help drive NSW’s future economic strength and attracting and supporting world-class anchor tenants is critical to growing these powerful ecosystems, according to new research by the NSW Innovation and Productivity Council (IPC).

Interim Investment NSW CEO Katie Knight said the state’s innovation precincts, including Sydney’s Tech Central, are at the heart of NSW’s innovation engine and the new The Role of Anchors report.

“We have had tremendous success in enticing leading local and international companies and institutions such as Atlassian, the Children's Medical Research Institute and Lockheed Martin to anchor our innovation precincts,” Ms Knight said.

“From Tech Central, to the Westmead Health and Innovation District and the Western Sydney Aerotropolis, our precincts are places where ideas can be turned into commercial realities.”

IPC Member Jillian Kilby said the report highlights the critical role anchor tenants, such as Atlassian at Tech Central, Cochlear at the Macquarie Park Innovation District, Brightmark at the Parkes Special Activation Precinct and Lockheed Martin at the Williamtown Aerospace Precinct play in the wider ecosystem of the precincts.

“The right anchor tenants can play a pivotal role in wider job creation, encourage suppliers to innovate, attract capital and talent, connect small businesses to global markets, and accelerate investment in R&D,” Ms Kilby said.

The report recommends the co-design of long-term anchor strategies by government and the private sector, which are tailored for each precinct.

“Across the state, there is clear appetite among many anchor businesses and institutions to build a stronger local talent pipeline and share common infrastructure for the benefit of the wider precincts, but more needs to be done,” Ms Kilby said.

For more information about the report visit: https://www.investment.nsw.gov.au/anchors

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