The bold vision for Lot Fourteen to become Australia’s leading centre for entrepreneurs, start-ups and innovation is a step closer with the announcement of a $20 million grant from the Australian Government for a central innovation hub.
The funding is part of the City Deals program and was announced today by Trade, Tourism and Investment Minister, Senator Simon Birmingham and by Cities, Urban Infrastructure and Population Minister, Alan Tudge.
Minister Tudge said the innovation hub would bring together venture capital, scientists and entrepreneurs to create the next generation of businesses for Adelaide.
“Adelaide has always had a history of entrepreneurship and innovation and the hub will turbocharge it.” – Cities, Urban Infrastructure and Population Minister Alan Tudge
Minister Birmingham said the hub project recognises that Adelaide is fast becoming a market leader in innovation and research.
“This project will help unearth the next significant new innovation or invention, harness competitive advantages and see ideas become reality,” he said.
“That means there will be more jobs for South Australians and more opportunities for our young people so they can stay here, rather than moving to the east coast for other opportunities.”
Also today, Premier Steven Marshall announced that a search would begin to find the best architectural design for the innovation hub building.
He said an “inspiring, cutting edge, and functional design” would bring together all levels of government, global industries, entrepreneurs and research institutes.
Premier Marshall said the hub would be an integral component of Lot Fourteen, in addition to the National Gallery for Aboriginal Art and Cultures, the International School of Culinary Excellence, Hospitality and Tourism, and other highly anticipated tenants such as the Australian Space Agency.
“The innovation hub will enable seamless research and collaboration between businesses, entrepreneurs, and the surrounding universities, fulfilling the state government’s bold vision for this site to be transformed into one of the country’s leading innovation neighbourhoods.” – Premier Steven Marshall
The Premier commended government agencies, industry, the start-up community, and the South Australian public for the rapid progress of Lot Fourteen, acknowledging the excitement around the site’s emergence as a world-class innovation precinct.
“Only two years ago, this site was a functioning hospital,” he said.
“We have been overwhelmed by the interest from global innovators and peak companies who want to be part of the action here.”
Set in the heart of Lot Fourteen, the innovation hub will be for tenants and the public alike, providing a space to socialise, share knowledge, collaborate and demonstrate work on emerging technologies. It will also be a window for the public into Lot Fourteen’s cutting-edge activities to inspire our next generation of entrepreneurs.
The innovation hub is expected to include clusters of deep learning, defence techno-campus, cyber security, coding, gaming and immersive media together with shared services. Digital infrastructure, smart lighting and safety controls will be integrated throughout the hub to support these endeavours.
Lot Fourteen’s Master Plan provides for a central, key location as a focus of activity with the potential to accommodate up to 22,500 square metres of flexible high-quality commercial space across two towers that are proposed to sit above a common use ‘hub’ facility.
Preparation of the 3,500 square metre site has commenced, with the demolition of existing buildings slated for completion by mid-2020.