Investor Updates
Australia names Food Precinct partners
13 June 2013
The Australian Government has selected RMIT and La Trobe universities to create a new Food Industry Innovation Precinct, part of a $505 million overall plan to boost the nation’s reputation for research and development (R&D), add value across the food-supply chain, and expand scope for collaboration between research institutions and business.
Under the agreement, the food precinct will initially be at Latrobe University’s R&D Park in the northern Melbourne, where precinct partners will have access to pilot food preparation and tasting laboratories. The campus is also near industry partners in dairy, meat and other food sectors.
“Establishing the precinct at R&D Park for an initial 12-month period will enable all potential hosts to prepare more detailed bids to host the precinct permanently,” the Minister for Climate Change, Industry and Innovation, Greg Combet, said.
Mr Combet added that the industry-led initiative, which aims to link research and business, would make the food sector more attractive to investment.
He said it would also help meet the goals of the Government’s recently released National Food Plan.
The food precinct announcement is a key part of the $1 billion Industry and Innovation Statement, unveiled in February 2013 by the Government of Prime Minister Julia Gillard.
As part of the innovation plan, the Government has said it would invest more than $500 million in establishing 10 Industry Innovation Precincts around Australia, joining companies, universities and research institutions, as well as experts in technology and business.
The first two, a Manufacturing and Food Precinct, were announced at the time of the release of the Government’s Industry and Innovation Statement, with the remaining eight Precincts to be determined by a competitive selection process.
Applications are open for these remaining Industry Innovation Precincts.
More information