THE CHALLENGE
Dantia, the Lake Macquarie Economic Development Company, engaged The Strategy Group to conduct a current state assessment of the Lake Macquarie region’s innovation ecosystem in order to inform a strategy for growth.
APPROACH:
Employing an innovation ecosystem audit framework
The Strategy Group employed an Innovation Ecosystem Audit Framework to conduct the current state assessment which comprised three key phases:
- Desktop review of current innovation strategies and initiatives within the Lake Macquarie region’s ecosystem.
- One-to-one interviews with key stakeholders in the region.
- Analysis of international best practice regarding key success factors for innovation ecosystems and applicable learnings for Dantia.
OUTCOME
Identifying key opportunities for the growth of Lake Macquarie’s innovation ecosystem
The Strategy Group synthesised the desktop research with the qualitative insights derived from the stakeholder interviews and the learnings from international best practice to develop five key opportunities for the growth of Lake Macquarie’s innovation ecosystem.
A set of recommendations was then developed for Dantia to effectively execute on the key opportunities.
The final report comprised all results, insights, opportunities and actionable recommendations which was presented to Dantia’s Board.
