The Monash Technology Precinct has been recognised by the Global Institute for Innovation Districts (GIID) as an example of how effective land planning and zoning activities can enable innovation and foster a thriving, multipurpose ecosystem.
An international not-for-profit organisation dedicated to conducting independent and practice-oriented research, GIID seeks to identify how districts transform into new engines of city and regional economic growth. In its research brief, titled ‘Innovation Districts and the Centrality of Land’, GIID surveys a number of global innovation districts that subvert traditional twentieth century city models and posits the value of a new compact and sustainable urban environment where value is placed on the exchange of ideas between people, companies and knowledge institutions.
Since its establishment in 1958, Monash has worked to create high-quality environments that support education, research and enterprise – both on the Clayton campus itself and in surrounding areas. In its research brief, GIID acknowledges that the Monash Technology Precinct creates “an offer that far surpasses institutional buildings, offices, and other types of research buildings” through the University’s integration of land as part of its governance structure.
With its edges anchored by major public partners and services – including the Victorian Heart Hospital, Moderna’s mRNA manufacturing facility, the Ian Potter Centre for Performing Arts and an in-development Monash Suburban Rail Loop station – the Monash Technology Precinct is purpose-built to foster collaborative partnerships between industry, research, education and the local community. The Precinct’s innovation ecosystem brings together a diversity of knowledge-intensive activities in the fields of education, health, advanced manufacturing, new technologies and sustainable development through its relationships with the Monash Medical Centre, the Australian Synchrotron, CSIRO’s largest site in Victoria and the Melbourne Centre for Nanofabrication, as well as global businesses and a fast growing cohort of startups.
Through fostering strong and synchronistic relationships with industry and government, the Precinct supports 115,000 jobs, making it the second largest employment hub in Victoria outside of Melbourne’s CBD.
“Strategic spatial planning around Monash supports a dynamic ecosystem where partnering, relationships, and collaborations thrive,” said Professor Doron Ben-Meir, Deputy Vice Chancellor (Enterprise and Engagement) and Senior Vice President.
“By leveraging and enhancing the proximity between institutions, industry, and investors, we’re able to seamlessly connect University and industry activities. This synergy in turn delivers a step-change in the growth and liveability of Melbourne’s south east, fostering jobs, housing, community amenities and opportunity in the middle suburbs.”
A home for innovators
The Monash Technology Precinct provides unique access to Monash University’s world-class enterprising capabilities, facilities and talent. For companies looking to tackle the greatest challenges of our age, this is a game changer.
