Policymakers, business strategists, innovation professionals, and researchers are increasingly being asked to invest in, create, or replicate innovation ecosystems. Until now, a clear framework for understanding what ecosystems are, how they function, and what enables their success has been largely missing, particularly in Australia. The Handbook of Innovation Ecosystems: Placemaking, Economics, Business, and Governance, just published by the Acton Institute for Innovation,

RMIT University’s Enabling Impact Platforms (EIPs) connect researchers, industry, and government to accelerate research translation and deliver outcomes that matter. Covering advanced manufacturing, health, sustainability, and more, the EIPs act as system integrators—breaking down silos, seeding collaborations, and aligning research with national and global priorities.

University–industry ties are rising, but mainly with foreign firms. The real barrier is domestic absorptive capacity: many Australian SMEs lack R&D talent, systems to use outside knowledge, and resources to scale. Multinationals adopt our research, while local work stalls at TRL 6–7. Stop blaming universities. Industry must invest in skills, universities must back implementation, and government must support transfer agents. Without this, R&D returns will stay weak.