The Handbook of Innovation Ecosystems provides a framework for charting a course for Australia to “move from fragmented, project-based initiatives to a coherent, adaptive, strategically integrated innovation system”. It will be of assistance to the Minister for Industry and Innovation and Minister for Science Tim Ayres as he is faced with expectations of transformative action in a ‘budget neutral’ funding environment.

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.

New research examining 80+ international innovation districts reveals what drives success. From MIT's Kendall Square to Singapore's One North, thriving ecosystems integrate placemaking, economics, business development and governance. Success comes from institutional capabilities and relationships, not impressive buildings. Australian policymakers can learn from global best practices whilst avoiding common pitfalls like property-led development models

Australia’s economic future depends on lifting productivity through deliberate, coordinated innovation efforts. This demands more than tax breaks or start-up hype. We need systemic clarity about innovation; mature ecosystems that enable diffusion, PMI-oriented public intervention, regional governance, and outcome-based metrics. Only then can Australia boost competitiveness, inclusivity, and resilience beyond legacy sectors and cyclical growth.