As a prosperous city, Melbourne will be a place for the creation and growth of new businesses. Its affordable accommodation and accessible facilities and services will attract new businesses to operate from the city. The way business is done is changing and as a prosperous city, Melbourne will adapt to accommodate emerging trends and business models.
Future Melbourne 2008


Fostering innovation and collaboration was seen by a large number of people as a priority if Melbourne is to be seen as an attractive destination for new businesses. For many people this meant thinking differently about current business practices, and not being constrained by traditional business models. Several ideas related to the creation of networks through which people could collaborate on innovative ideas. These networks could operate via digital platforms, in purpose-built spaces, or in public spaces.

There was significant overlap between this Priority and Priority 1.4. Designed for People, Priority 1.5. An Affordable Place to Live, Priority 3.4. Supportive of Business and Priority 4.1. Generating Innovation from Knowledge.

Summary of ideas (total 27 statements)

Being attractive to new business through fostering innovation (19 statements)

People wanted to see innovation encouraged as a way to make Melbourne an attractive destination for new businesses. Thinking innovatively about businesses and the way they operate was stated by several people as the way to promote a thriving business sector. Several improvements to traditional business models were suggested, some advocating for the adoption of specific plans or models seen as successful elsewhere. ThriveAbility Foundation (UK), Tech City (UK), and MassChallenge (Boston), were examples.

Other individual ideas were innovative building use, short-term cheaper leases for start-ups and flexible use of spaces for example; short courses for budding entrepreneurs; government and industry providing more resources for start-ups; and, increased collaboration between sectors.

We need better incentives especially for innovation (e.g. start-ups, new ideas) because the world is changing faster and faster, we need to be ahead of the curve and lead the world with fundamental challenges like climate change and exponential population growth.

Being attractive to new business by nurturing collaboration (8 statements)

Several people wanted to have the chance to collaborate more as a way to facilitate business opportunities. People wanted to see the building of hubs, networks, exchanges, or spaces to allow the interchange of ideas. These spaces were not necessarily in physical buildings. Peoples’ comments showed that they thought that the cross-pollination of business practices and ideas would result in business growth through interacting in virtual and physical, or phygital meeting rooms.

Create a platform for a diverse group of people. 'Virtual' or 'physical' meeting rooms. 'phyital' (sic) meeting room - with a Melbourne focus but open globally. With the concept of people to get together, exchange ideas, have access to potential support for start ups, to translate to action with tangible outcomes. All kinds of groups could be involved, from start ups, cultural, hospitality, business and a focus on education and coaching.