What is an innovation precinct?

Innovation precincts are environments where people work together in creative and entrepreneurial ways. They support interaction between sectors, disciplines and geographic boundaries.

The precinct will cultivate an innovation ecosystem for the translation of research and the creation of new industries and careers.

A vibrant hub for the Carlton community and Melbourne residents

The new precinct will offer an exciting program of public events and exhibitions, and will host Science Gallery Melbourne. Part of a global network, the Gallery will collaborate with artists, scientists, academics and industry to deliver a cutting-edge program of exhibitions, events and experiences.

The local community and residents will also enjoy shops, cafes and several public spaces, including the 1300 sqm outdoor ‘Oculus’ offering space for learning, events and leisure. Interconnected laneways between the buildings will provide pedestrians with direct access to Swantson, Grattan and Cardigan streets.

The innovation precinct will be a vibrant hub that will attract hundreds of thousands of visitors each year and energise the neighbourhood.

A critical asset for Melbourne and the region

By enhancing research and education, the precinct will support the vision of Melbourne as a ‘Knowledge City’ and play an important role within the Melbourne Innovation Districts. As a leading innovation centre, it will attract the world’s greatest minds. Not only will the precinct increase the number of visitors to the city, it will also strengthen Melbourne’s international reputation for research and innovation.

Showcasing highly innovative design and technology, the precinct will be a significant contribution to Melbourne’s iconic urban landscape. The history of the former site of the Royal Women’s Hospital will be preserved and integrated into the new design through the re-use of heritage materials.

A significant impact on the Victorian economy

The construction of this cutting-edge precinct is expected to create thousands of jobs and generate $1.24 billion in gross output. On completion, the project is expected to accommodate around 3,100 workers, with over 2,500 working in commercial and scientific industries, thereby supporting the core of the Parkville National Employment and Innovation Cluster.

The innovation precinct will be a dynamic ecosystem that will grow the region’s productivity by co-locating research teams, entrepreneurs, people from multinational corporations, creative communities and social enterprises. It will also host incubators and accelerators – including the Melbourne Accelerator Program (MAP) and Translating Research at Melbourne (TRaM) program – thereby increasing the size of the Victorian economy.