Innovation and entrepreneurship
Federation University is well positioned to support the Commonwealth Government’s initiative to develop Innovation Precincts.
The Federation University Technology Parks (FUTP) are an outstanding example of the types of economic outcomes able to be achieved through Innovation Precincts located in partnership with Universities and the private sector.
Having established the first Technology Park in 1995, Federation University has the runs on the board when it comes to fostering partnerships with business, researchers and governments.
The Technology Parks across the three current sites host 64 businesses and agencies who collectively employ in excess of 2,100 EFT positions (up 480 EFT since 2017) and contributes in excess of $300 million in annual economic activity (direct/flow on).
The spirit of innovation and entrepreneurship at FUTP has enabled techno-driven businesses to thrive and prosper in a dynamic and supportive environment.
Our fast evolving precincts are designed to encourage and support the development of both emerging and existing technology oriented enterprises.
FedUni operates three Technology Parks – Mt Helen, Ballarat and Gippsland - with a fourth at Morwell due for completion at the end of 2019.
Each Park is located within the vicinity of a Federation University Australia Campus.
The Tech Park provides outstanding infrastructure, but more importantly partners with business to meet the challenge of ensuring appropriately skilled workforce is available as businesses grow. Tech Park tenants are able to partner with the University in three core domains:
- Ongoing workforce development of staff through access to our dual sector university;
- Vocational placement programs enabling the creation of a skilled labor pool for future employment requirements; and
- Long term research partnerships.
The principal focus of the FUTP is the information and communication technologies industry sector, with IBM having been operating since 1995.
Since 1995 our Tech Parks have grown, with 64 enterprises including IBM, Emergency Services Telecommunications Authority, the State Revenue Office, Serco, Concentrix, Primary Health Care, Fiona Elsey Cancer Research and Southern Cross Austereo.
The Park’s ideal locations provide great lifestyle opportunities as well as having the convenience of being close to Melbourne and major regional cities.
The FUTP make significant contributions to the regional economy with the annual economic impact estimated to be $300 million, with $100 million contributed directly in wages and salaries.
There are more than 2,100 full-time jobs hosted by the two Ballarat FUTPs, equal to almost five percent of the total full-time employment in the City of Ballarat.
Most importantly the Tech Park has ensured that the regional ICT requirements of the economy are able to be fully met within the capability generated by the Tech Parks. Economic analysis has shown that ICT is a critical enabler that underpins innovation and transformation of other sectors of the economy.
In Gippsland the University has partnered with the Victorian government to establish the FUTP model in Morwell as part of the economic transition of the region. The $17 million project will establish new technical capability in the region, will host 186 EFT positions as part of stage 1, and will in the medium term seek to create similar economic activity and capability as has been achieved across the Ballarat sites.
Federation University strongly supports the Government’s initiative to invest in Innovation Precincts and looks forward to actively being involved in its success.
We believe that the FUTP offers an outstanding example of the Commonwealth Government’s Innovation Precinct principles.