Colin Graham

1. Innovation in the digital
economy
Colin Graham
Director, Causeway Innovation

2. Regions, Innovation and
Competitiveness
• Innovation infuses economy... new
ideas, products, services, technologies
• Vitality of economies depend upon
creating innovation and
competitiveness at the REGIONAL level
• Most important sources of prosperity
are created, not inherited
Clusters of
• 3 types of business: local, resource Innovation: Prof
Michael Porter
driven and TRADED

3. Regional Innovation System: Building Blocks
Intellectual Capital Money and external business
•University students, staff and networks expertise
•University Hospital/s •Banks
•Research Institutes •Business Angels
•Region’s people and business •Venture Capital
•New arrivals •Lawyers, Patent attorneys
•Accountants
•Marketing experts
•Professional Service firms
•R&D Advisory Services
Place &
Social
networks
Land, property and infrastructure People
•Environment and place •Ideas and talent
•Architecture •‘Hidden treasures’
•Science & tech buildings •Serial entrepreneurs
•Blur boundaries •Residents, migrants
•Innovation Centre •Education & training
•Knowledge Precinct •Entrepreneurial culture
•ICT Connectivity •Trust
• Social & Business networks

4. Example initiative:
Innovation Centre Sunshine Coast

5. Innovation Centre as a hub
Investment raised ($M)
5.5 5.765
4.3
2.75
3.02
2.475
2005
2006
2007
2008
2009
2010
Key sectors:
• ICT
• Clean Technology
• Creative Industries
• Health technologies

6. Online engagement
& trading in global markets
• Example Business: Foodmatters
• Based on Sunshine Coast, trading with world
Virtual business
113,625 fans on
Facebook
Sold 100,000+
copies of movie:
dvd & download
Massive online
community

7. Smart management of environment
and infrastructure

8. Keys to success in regional innovation
• Importance of social and business
networks
• Universities and research institutes
as key regional economic assets –
talent flow
• Strong and relevant professional
service firms
• Access to capital – business angels
to VCs
• Building a critical mass

9. Colin Graham
Director, Causeway Innovation
M: 0418 594 545
E: cgraham@causewayinnovation.com