Our Cognitive City and Living Lab signifies the next quantum leap in the design and functionality of future cities, positioning Victoria as a world leader in innovation.
Our Living Lab will leverage data to drive advancements in R&D and innovation within the Australian Education City Innovation District. This will be facilitated by open data and cognitive enablement which focuses on collaboration between tertiary institutions and corporations intending to expand operations to Australia. Applied to our proposed Innovation District at East Werribee, open data will allow enterprises, tertiary institutes and local government agencies to share information, access data and establish an ecosystem of exchange that fosters collaboration and eventual commercialisation.
In-house innovation, ecosystem partnerships and R&D portfolio diversity stand out as three fundamental factors of success for the world’s top institutions. For example:
Top tier R&D institutes with specific disciplinary focus collaborate extensively with industry partners to ensure relevance and sustain their funding through commercial applications of their IP
Large cross-disciplinary institutes tend to leverage all three fundamental factors, reflecting the need for a broader portfolio of research themes to hedge returns while blending the best of in-house and partner capabilities to drive up the odds of commercial success
Emergence of startup accelerators such as Y-Combinator is accelerating the path between idea to market commercialisation.
The activities within the innovation and technology precinct will be aligned to the diverse research agendas within the R&D precinct and formed from clearly identified market demands and opportunities, to result in future success of development and commercialisation efforts.
A ‘Living Lab’ that supports technological, economical, commercial & social impact
Collaboration and sharing of information internally and externally with top tier ecosystem partners
A closed-loop education and R&D ecosystem to enhance revenue creation from new products through commercialisation, start-up spin-offs and consulting services
A self-sustainable funding model based on strategic diversification of research agendas, and the targeting of local research themes that have global implications
Australian Education City will establish a Living Lab within the Innovation District that aggregates and provides coherent datasets to drive advancements in R&D at the intersection of Global and National interests.
Overall, R&D focus has transitioned to focus on major implications of technological advancements across industries; especially in relation to analytics, AI and Cognitive developments. These trends are the basis upon which Australian Education City will deliver the world’s first Cognitive City within its proposed Innovation District at East Werribee.
With our innovation smart city partners IBM, Cisco and Honeywell, Australian Education City will be extending Smart City concepts to create a city that learns on a continual and ongoing basis.
Our innovation and technology precinct will be a test-bed for the advancement of world first ICT technologies, placing Australian Education City, its industry and university partners with an opportunity to be at the forefront of the digital revolution.