The University of South Australia has launched an innovation centre, in collaboration with Hewlett Packard and the South Australian government, to help research and technology realise their commercial potential.
Prime Minister Malcolm Turnbull has put innovation and start-up culture at the centre of his vision for the Australian economy. He has appointed venture capitalist Bill Ferris to spearhead the government's innovation agenda. 
Australia's fledgling venture capital market is headed for its best year on record, with more than $600 million of new funds already slated to be raised by   June 30 next year.
On Monday the University of South Australia (UniSA) launched its new Innovation and Collaboration Centre "to help business and industry turn their ideas into market success, building on South Australia's growing reputation as the state for innovation and enterprise."
"The ICC is built on a strategic partnership which will see business benefit from UniSA's knowledge in business growth and commercialisation, combined with Hewlett Packard Enterprise's technological expertise and the support of the South Australian government," UniSA vice-chancellor David Lloyd said.
"It's a partnership which champions the growth of SA's business sector through a collaborative, dynamic and supportive environment, and it's one which will help educate the professionals of tomorrow, as our students will be able to generate their business ideas and utilise the resources of the centre."
The centre will be based at the City West campus and then relocated to the university's health innovation building that is due to be completed in 2018.
It will offer management, strategy and marketing support to help develop products and expand businesses, as well as run start-up workshops.
Hewlett Packard also announced on Monday that it is expanding its presence in South Australia, adding 400 jobs.
The focus on technology and new industries comes as South Australia's traditional resources and manufacturing sectors are under fire.
On Monday Arrium announced up to 250 job cuts at its Whyalla steelworks, following on from major job cuts in its iron ore business.

Key to transformation
"Innovation is key to transforming the state's economy and our vision is to position South Australia globally as a start-up destination," South Australian Premier Jay Weatherill said.
"The innovation and collaboration centre will be an incubator for businesses wanting to explore new ideas and it will provide world-class resources and support to accelerate the growth of start-ups, small businesses and student entrepreneurs."
Unlike the Universities of Melbourne, Queensland and NSW, which take equity stakes in businesses through Uniseed, the ICC will not invest directly in ideas or businesses. 
"South Australia has a very large proportion of small businesses so the idea is to partner with them and help them ot scale up," ICC manager Jasmine Vreugdenburg??? said.
The role of direct investment at UniSA has been assumed by Venture Catalyst, a program set up about two years ago. The program offers $50,000 grants to help commercialise ideas of UniSA students and alumni. To date four grants have been issued. The South Australian government also provides some financial assistance.