With potential around every corner, the South Australian Government has identified nine key sectors that will transform us into the Growth State; achieving economic growth surpassing the current average trajectory.
FIXE supports entrepreneurs in our future industries by working with government, industry and the business community to identify entrepreneurship opportunities and achieve accelerated outcomes.
The Australian Space Agency officially opened in Adelaide, February 2019, and is located at innovation precinct Lot Fourteen.
The state’s space sector is incredibly active with more than 80 organisations, companies and educational institutions and a workforce of approximately 800 people.
The Australian Civil Space Strategy 2018 – 2029 aims to grow the nation’s space industry to 30,000 jobs and $12 billion by 2030 and identifies seven National Civil Space Priorities:
- position, navigation and timing; earth observation
- communication technology services
- leapfrog R&D
- space situational awareness
- robotics and automation
- access to space.
South Australia is home to $90 billion of Australian defence projects including the $50 billion Future Submarines program and the $35 billion Future Frigates program.
Defence SA is South Australia’s lead agency for all defence matters and the nation’s only standalone state defence organisation.
The Australian Government’s Centre for Defence Industry Capability is headquartered in Adelaide and joins up the innovation and expertise of the Australian defence industry.
There are also numerous workforce and skills development initiatives in South Australia, including the new Naval Shipbuilding College.
All of this is underpinned by a highly developed local supply chain.
South Australian agribusinesses support 152,000 jobs and contribute $19.7 billion to the state's economy.
Our state hosts the largest agricultural research precinct in the Southern Hemisphere, the Waite Research Precinct, which focuses on improving agricultural productivity and conducts nation-leading research into wine, grain, soil and plant breeding.
AgTech solutions are helping to revolutionise traditional agriculture operations around the world, and there is immediate opportunity for South Australians with entrepreneurial capability in this booming sector.
Hi-tech isn’t unique to any single industry—new technologies are being introduced in a wide range of sectors to accelerate growth.
Technology-focused businesses already employ a significant number of South Australians, representing 5 per cent of the total workforce and the 9th largest employer in the state.
South Australia also boasts the highest number of machine learning researchers in the nation, with the Australian Institute of Machine Learning based at Lot Fourteen.
To stimulate growth, we are looking to further skill our people and our business environment as well the capability of infrastructure to attract further investment.
The State Government’s Hi-Tech Sector Plan 2030 outlines strategies and key growth areas through which South Australia can become a globally recognised hi-tech destination.
It sets an ambitious growth target of 6 per cent per annum for the sector through to 2030, with a focus on strengthening technical capability, fostering connections and collaboration, forging new jobs and career pathways and enabling greater market access and development.
The hi-tech sector encompasses frontier technologies like Industry 4.0, Internet of Things (IoT), cyber security, augmented and virtual reality, blockchain, Artificial Intelligence (AI) and machine learning.
Digital capabilities across business and society continue to evolve at rapid rates. In our age of apps and data-driven solutions, digital entrepreneurs lead the way.
Digitalisation (embracing digital technologies as part of an overall business process) generally enables businesses to employ faster, more time and cost-efficient solutions that increase productivity and/or capabilities, in all aspects of the business.
Beyond the business world, apps, wireless technology, devices and automation dominate the way we transact and interact with each other.
Aside from the potential of digital entrepreneurship, Adelaide houses strong digital infrastructure for businesses, with the Ten Gigabit Adelaide and GigCity networks available in Adelaide and some regional locations.
South Australia has built a strong reputation as a creative state, home to an impressive program of festivals, leading fashion brands, and a growing film, television and games sector.
Adelaide is also UNESCO City of Music, and the high calibre of our local musical talent is reflected in the number of live music events and festivals held throughout the state.
South Australia has defined 10 key Creative Industries sectors set to drive further economic growth:
- Advertising and Communications Design
- Broadcasting: TV, Radio and Podcasts
- Design: Architectural, Industrial, Urban, Landscape, Interior and Product
- Festivals (Creative and Cultural)
- Performing Arts
- Screen: Film & TV, Post-Production, Game Development
- Visual Arts and Craft
- Writing and Publishing.
With creative employment increasing at nearly twice the rate of the Australian workforce, the Strategy has set a target of 5% growth per annum to 2030. This will almost double the Gross Value Added (GVA) for the sector, which currently sits at just over $1 billion.
Beyond economic value, the Strategy seeks to monitor and foster opportunities in the emerging CreaTech industry as well as increase the diversification of revenue (engaging new markets and new audiences) and the intellectual property developed in South Australia.
Health and Wellbeing
South Australia is already home to world-leading institutions and universities conducting life-changing health and medical research. There is great opportunity in the commercialisation of this knowledge, and we’re also seeing the launch of more startups in the fields of aged care, allied health, medtech, biotech and artificial intelligence.
Our local ecosystem includes the Australian Institute for Machine Learning, the Digital Health Research Centre, the International Centre for Point-of-care Testing, and the GP Partners network of doctors trialling digital health initiatives. Of note is the Global Centre for Modern Ageing (GCMA), based at Tonsley Innovation District, which provides research and insights, advisory and living lab services to support businesses and organisations to develop better products and solutions to meet the needs of the older community.
Significant research incentives and tax offsets are available to eligible companies operating in South Australia, which can help cover the cost of clinical trials, analytics, study drug manufacture, prototype manufacturing and many other research and development activities.
South Australia is focussed on a clean, renewable future, and is a national leader in the development and adoption of renewable energy technologies.
By focusing on six key areas—
- large-scale renewable energy generation and storage, such as wind, solar thermal, solar PV, bioenergy, battery, pumped hydro and thermal storage
- demand-side energy such as rooftop solar, bioenergy, distributed storage, energy efficiency and demand management
- hydrogen production, use and export
- uptake of zero emission vehicles and investment in charging and refuelling infrastructure
- supply-chain development of low carbon technologies
- research and industry partnerships in low carbon technologies.
—Our aim is to maximise the economic and job opportunities associated with renewable energy and energy storage projects and help the state meet our energy needs.
With a long history in automotive manufacturing in our state, our state is also looking to develop the zero-emission vehicle category and off-grid renewable projects.
Within a decade, we want South Australia to have a higher rate of business startups than anywhere else in Australia.
Whilst the South Australian Government has developed strategies for targeted growth sectors, we know that your entrepreneurship has no limit.
FIXE exists to support startups in all areas—whether that be aged care, human resources, construction, space, defence or cyber.
There is room for bold ideas, innovation and advancement in all industries.