About Science, Technology and Innovation

Innovation

The Office of Science and Technology aims to stimulate Victoria's innovation skills, knowledge and capabilities as a foundation for our future economic, environmental and social prosperity.

Worldwide, innovation is recognised as the single most important ingredient in a successful modern economy. At its broadest, innovation means finding new or better ways to do things, creating new products or services, applying new technologies to solve existing problems, or using existing products and technologies to meet new needs.

Innovation delivers benefits in the form of new products and production processes and better quality goods and services. It also benefits the wider community through advances in vital community services such as healthcare, education, communications and transport.

Government's role

The Government's commitment to Science, Technology and Innovation (STI) is a whole of Government and whole of State initiative.

Office of Science and Technology policy and programs are designed to address Victoria's development needs and priorities. These are identified through an ongoing process that encourages collaboration between education, research and industry sectors. A range of organisations and agencies are responsible for implementing  these programs and projects.

Apart from the Department of Innovation, Industry and Regional Development, other government departments involved in the STI initiative include the Department of Education and Training, the Department of Human Services, the Department of Primary Industries, the Department of Sustainability and Environment and the Department of Infrastructure.

STI Initiative

The Victorian Government has made significant investments in innovation, including new scientific and communications infrastructure, centres of research excellence, programs to assist business to become more innovative and projects to maintain and build a skilled and creative labour force.

The centrepiece of this investment has been the STI Initiative coordinated by the Office of Science and Technology. The STI Initiative supports leading edge biomedical, environmental, agricultural, manufacturing, design, and information and communication technologies (ICT) projects across metropolitan and provincial Victoria.

The first generation of the STI Initiative was launched in 1999-2000 and projects under this $310 million, five-year initiative are already demonstrating economic, social and environmental benefits for the State.

A 2003 study on the anticipated economic impact of the First Generation, STI initiative forecast that for the period 2000–2014:

• the STI Initiative will generate an overall increase in employment of about 1700 jobs
• real Gross State Product will be more than $2 billion higher than it would've been in the absence of the STI Initiative
• real investment in Victoria will be $868 million higher than it would've been in the absence of the STI Initiative
• real private consumption in Victoria will be $420 million higher than it would've been in the absence of the STI Initiative
• the STI Initiative will make an overall significant net positive contribution to the Victorian economy

Following this success a second round of funding of $310 million over five years for the STI Initiative – Second Generation was announced in October 2002 as part of the Government's Innovation Statement Victorians Bright Ideas. Brilliant Future.

The second generation STI Initiative contains a number of programs aimed at ensuring Victoria is a productive and competitive contributor to the global economy.

STI Initiative Review

	Executive Summary: STI Initiative Review (PDF 266Kb)
	Offers an outcome review of the STI Initiative which provided $310 million in funding to provide support for science and research in Victoria

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