Towards an innovative Victoria

Innovation is the 21st Century driver for economic growth, high quality jobs, wealth and improved living standards, the Minister for Innovation, John Brumby, has said.

"Across the world, the best performing economies are founded on smarter investments, smarter industries and more highly skilled labour," Mr Brumby said.

"The Bracks government's new innovation portfolio highlights our commitment to positioning Victoria as a significant global player in this new economic environment."

Mr Brumby said the Bracks government's innovation agenda over the next 12 months would include:

• Overseeing the establishment of the new Department of Innovation, Industry and Regional Development;
• Making innovation the key focus in the May budget;
• Positioning Victoria as a leading international centre of design;
• Establishing Victoria as Australia's design capabilities capital;
• Driving public sector reform and closer links between government and the community through the egovernment strategy;
• Developing new strategies to boost Victorian exports;
• Reforming the Government's investment attraction program to focus on innovation, new technology and productivity change;
• New initiatives to grow Victoria's research and development and increase the level of commercialisation;
• Developing a new innovation program to spearhead Victoria's leadership in science and technology over the next decade; and
• Ensuring Victoria is a leader in biotechnology, information and communication technologies and new manufacturing technologies.

Mr Brumby said there was no doubt Victoria was already a leader in innovative industries such as ICT, biotechnology, environmental technologies and advanced manufacturing, with key indicators showing: Victoria produces more IT and computing graduates than any other state; Victoria has accounted for 40% of Australia's biotech company start-ups over the past two-and-a-half years; and Victoria has led Australia in business research and development in 1999-2000 with spending in Victoria at $1474 million - the highest of any state and 36% of the national total.