The Industry Growth Centres Initiative (the Initiative) is a new approach to industry policy. It aims to build capability and stronger industry systems through a collaborative, industry-led approach. The Initiative is helping Australia transition to smart, high value and export focused industries.
The Initiative is ongoing, with government investing $238 million over the next four years from 2017/18 to 2020/21. Growth Centres have been established in six industry sectors of competitive strength and strategic priority:
- Advanced Manufacturing
- Cyber Security
- Food and Agribusiness
- Medical Technologies and Pharmaceuticals
- Mining Equipment, Technology and Services
- Oil, Gas and Energy Resources.
Growth Centres are not-for-profit organisations, each led by a strategic board of industry experts who oversee the operation of their Growth Centre.
While the Growth Centres are flexible in their approach to addressing barriers to success, they focus on four key areas:
- Increasing collaboration and commercialisation
- Improving access to global supply chains and international opportunities
- Enhancing management and workforces skills
- Optimising the regulatory environment.
Each Growth Centre has set a long-term strategy for its sector. This is outlined in their Sector Competitiveness Plans, which describe how to lift the capability of the sector, boost productivity and skills, create jobs, reduce regulation and engage with international opportunities.
For more information about the Initiative, visit the Industry Growth Centres Initiative page on the Department of Industry, Innovation and Science website.