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, with more than $600 million of new funds 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 centre will be based at the City West campus and then relocated to the university's health innovation building due to be completed in 2018. It will offer management, strategy and marketing support, and run start-up workshops.
Hewlett Packard announced on Monday that it is expanding 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.
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 to scale up," ICC manager Jasmine Vreugdenburg said.
The role of direct investment at UniSA has been assumed by Venture Catalyst. The program offers $50,000 grants to help commercialise ideas of UniSA students and alumni. The South Australian government provides some financial assistance.