Supporting innovation to grow businesses and jobs

23 June 2022

The Victorian Chamber of Commerce and Industry welcomes the announcement by the Andrews Government of a $100 million investment for the Breakthrough Victoria University Innovation Platform, to drive innovation, new businesses and create thousands of new jobs.

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As detailed by Premier Daniel Andrews and Treasurer Tim Pallas, this landmark initiative will take the world-class ideas and research coming out of our esteemed university sector and help turn them into businesses that will create jobs across Victoria.

The Victorian Chamber strongly advocated to increase the rate of commercialisation of intellectual property as part of the 2021 Victoria Summit with industry, universities unions and other community organisations. It formed one of the 189 recommendations in the Victoria Summit Playbook.

 

To be attributed to Victorian Chamber of Commerce and Industry Chief Executive Paul Guerra:

“The Victorian Chamber of Commerce and Industry welcomes this significant investment into the state’s tertiary education system, innovation, businesses, jobs, manufacturing and the future of Victoria.

“This idea is something that we strongly advocated for in the Victoria Summit 2021 Playbook. It identified investment into innovation as one of the pillars to making Victoria the best place to live, learn, work and operate a business.

“The collaboration with Victoria’s best and brightest thought leaders during the Victoria Summit process recognised that supporting the early stages of commercialisation journeys will help turn great ideas into commercial successes.

“Victoria’s universities are world renowned for their research and we have regular dialogue with them to explore ways we can encourage and incentivise industry and the private sector to engage with them and this is a fantastic starting point.

“The calibre and diversity of our university sector combined with the confidence of the Victorian Government will ensure we are a global competitor when it comes to innovation and commercialisation.”

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