Activities:

• Identify and prioritise research projects with high potential for real-world impact, such as climate change mitigation, healthcare innovation, and sustainable energy.
• Establish innovation hubs to facilitate the transition of research from labs to market-ready solutions.
• Provide funding, mentorship, and technical support to researchers to commercialise their innovations.
• Develop pilot programs to test and refine solutions before scaling.

Business Impact:

• Create a pipeline of marketable products and services derived from cutting-edge research.
• Generate intellectual property (IP) and licensing opportunities for universities and research institutions.
• Foster partnerships with industries seeking innovative solutions to complex problems.

Activities:

• Organise cross-sector workshops, hackathons, and innovation challenges to bring together diverse stakeholders.
• Develop co-working spaces and innovation labs where academia, industry, and government can collaborate.
• Create online platforms for knowledge sharing, resource pooling, and project coordination.

Business Impact:

• Accelerate the development and deployment of solutions by leveraging shared expertise and resources.
• Reduce duplication of efforts and costs through collaborative R&D.
• Strengthen Australia’s position as a global innovation hub.

Activities:

• Conduct research and produce white papers to inform policymakers about the benefits of adopting innovative solutions.
• Advocate for regulatory reforms that support emerging technologies (e.g., AI, renewable energy, biotechnology).
• Work with government agencies to design incentive programs for businesses and researchers addressing grand challenges.

Business Impact:

• Create a favourable regulatory environment for innovation and investment.
• Increase funding opportunities for projects aligned with national priorities.
• Reduce barriers to market entry for new technologies.

Activities:

• Launch awareness campaigns to educate the public about grand challenges and the role of innovation in addressing them.
• Host community events, webinars, and exhibitions to showcase successful projects and their impact.
• Partner with media outlets to highlight stories of innovation and collaboration.

Business Impact:

• Build public support for innovative solutions, increasing adoption rates.
• Enhance the reputation of the ITA and its partners as leaders in addressing societal challenges.
• Attract more stakeholders, including volunteers, donors, and investors.

Activities:

• Establish Memoranda of Understanding (MoUs) with international organisations, research institutions, and governments.
• Participate in global forums and conferences to share knowledge and best practices.
• Facilitate cross-border collaborations on projects addressing universal challenges, such as pandemics or climate change.

Business Impact:

• Access global markets and funding opportunities for Australian innovations.
• Leverage international expertise and resources to enhance local projects.
• Position Australia as a key player in global innovation networks.

Activities:

• Create targeted funding programs for specific grand challenges, such as clean energy, food security, or ageing populations.
• Develop transparent application and evaluation processes to ensure funds are allocated to high-impact projects.
• Partner with philanthropic organisations and corporate sponsors to expand funding pools.

Business Impact:

• Provide critical financial support for high-risk, high-reward projects.
• Attract top talent and organisations to work on grand challenges.
• Generate measurable social and environmental returns on investment.

Activities:

• Develop a portfolio of investable projects that align with environmental, social, and governance (ESG) criteria.
• Host investor forums to connect impact investors with promising projects.
• Provide training and resources to help startups and researchers pitch to impact investors.

Business Impact:

• Mobilise private capital for projects that deliver both financial and societal returns.
• Create a sustainable funding model for long-term innovation.
• Strengthen Australia’s impact investment ecosystem.

Activities:

• Facilitate joint ventures between government agencies and private companies to co-develop solutions.
• Design risk-sharing models to encourage private sector participation in high-impact projects.
• Monitor and evaluate PPPs to ensure accountability and transparency.

Business Impact:

• Leverage public resources to de-risk private investments in innovation.
• Scale up solutions more quickly through combined efforts.
• Create new revenue streams for businesses through government contracts.

Activities:

• Develop incubators and accelerators focused on social innovation, targeting underserved communities.
• Provide grants and technical assistance to grassroots organisations working on local challenges.
• Measure and report on the social impact of funded projects to ensure accountability.

Business Impact:

• Improve quality of life for marginalised communities, fostering social cohesion.
• Build a more inclusive innovation ecosystem that benefits all Australians.
• Enhance the ITA’s reputation as a socially responsible organisation.