Partnerships

Partnerships between government, business and institutions are a prime requirement for success in the modern economy. Successful regional economic development models are built around true partnerships between government, businesses and major institutions.

New Partnership to turn ACT Ideas into Jobs | London Deal to Promote Economic Development Opportunities | North of England Inward Investment Agency | MOU with Washington to secure future Economic Development | Government signs partnership with Southern California

New Partnership to turn ACT Ideas into Jobs

In February 2005, a new $30 million venture capital fund will help capture some of the best ideas from Canberra-based researchers and develop them into new businesses and jobs.

The ANU / MTAA Super Venture Capital Partnership (the Partnership) is an innovative joint venture between the Australian National University (ANU) the Motor Trades Association of Australia Superannuation Fund (MTAA Super) and the ACT Government. MTAA Super will invest $20 million in the Partnership, as part of its alternative asset portfolio, and the ACT Government will provide a repayable grant of $10 million.

The Partnership will provide the first dedicated ACT-based commercialisation fund for pre-seed and seed capital investment, and represents an outstanding investment for the people of Canberra.

The major reason for investing in the Partnership is to increase the commercialisation skill level in Canberra, as well as the level of funding available for early-stage investment. This new Partnership uses the government’s new venture capital legislation and continues the delivery on the Economic White Paper priority of fostering innovation in the ACT.

The Partnership would be a model for future venture capital partnerships around Australia, and provides a unique opportunity to turn world-class research into world-class businesses.

The Partnership is great news both for researchers and the ACT community, creating jobs, enhancing Canberra’s reputation as Australia’s entrepreneurial capital, and strengthening the future of both research and business in Australia.

For more information contact +61 2 6125 2694.

London Deal to Promote Economic Development Opportunities

The ACT has signed an agreement with the London Development Authority to promote economic development opportunities. Announced by the ACT Chief Minister, Jon Stanhope MLA on 23 March 2004 the memorandum of understanding was the first step in a relationship, which would create business opportunities for Canberra. London Development Authority Newsletter

North of England Inward Investment Agency

Go North, the newsletter of the North of England Inward Investment Agency (NoEIIA), provides the latest news, business activity and investment information from the North of England. NoEIIA helps companies of all sizes with business information about the North of England region, including suitable locations, the workforce, business networks and financial assistance to investors. NoEIIA website then select Media to view current and previous newsletters.

MOU with Washington to secure future Economic Development

In November 2003, the ACT Government signed a formal Memorandum of Understanding (MOU) with the Greater Washington Initiative.

The Greater Washington Initiative is a region-wide marketing partnership between the 20 public jurisdictions in Greater Washington and major corporations in the district.

The Initiative assists firms in expanding their businesses in the District of Columbia, Northern Virginia and Suburban Maryland. Formed in 1994, it is based on the belief that the development of the region will be best pursued if the region as a whole works together to achieve economic growth.

The MOU is a primary feature in the building of Canberra's future economic development. The signing of the MOU has formalised an avenue for Canberra and Washington to work together to jointly explore economic development opportunities in areas such as:

sharing of information and ideas on economic development, market intelligence and business opportunities;
identifying export opportunities and facilitating trade;
facilitating the exchange of people and skills; and
marketing our respective regions as places to live, work and invest.

The Government is working to develop strategies to ensure increased opportunities are available for ACT companies to enter, or increase, export markets. Businesses in the ACT will benefit from being able to learn from and share experiences with business contacts in Washington.

For more information contact +61 2 6205 0244.

Government signs partnership with Southern California

The ACT Government has signed a partnership agreement with two international economic development agencies.

The partnership with two US companies LARTA and Global Connect will improve success of exporters and enhance the connections between Los Angeles, San Diego and Canberra through small and medium enterprises.

The cities of Los Angeles and San Diego in Southern California and Canberra, share many aspirations, but essentially each city has the leadership which acknowledges the challenges of the economies of the future.

Through this partnership the three agencies will work together on: economic development policy and program co-operation;

programs designed to maximise the potential of companies exporting for the first time, assistance delivered in the country of origin and the export target city;
share learning about global best practices in commercialisation of science and knowledge based intellectual property;
provide opportunities for staff exchanges; and
arrange the opportunity for senior academic and business leaders of each city to visit to share experiences and results.

For further information contact The Canberra Partnership on +61 2 6205 0244.