Sydney University launches on-campus innovation hub

The University of Sydney has established an on-campus innovation hub, aimed at fixing Australia's historic inability to turn ideas into "wealth generating businesses", which the university said is crucial to the country's economic future. According to James Meade, head of the Sydney Social Innovation Hub, universities have an essential role to play in fostering entrepreneurship and innovation in both the private and public sectors. "Innovation and entrepreneurship requires enthusiasm and we have lots of that. But it also requires targeted support. By leveraging informal knowledge networks within the university we can enable successful student innovation outcomes," Meade said.