Emergence of innovation districts over the last decade has brought together entrepreneurs, innovators, researchers and investors to collaborate and generate new ideas, products and services in close proximity with one another.
As cities invest in urban renewal and economic development, establishing innovation districts can help to increase opportunities around innovation and technology.
These innovation districts are generally made up of a combination of academic and research institutions, start-up incubators and accelerators, co-working spaces, housing, retail and cultural amenities. They bring people together from diverse disciplines, backgrounds and industries which have been seen to spark innovation, promote growth and create vibrant, liveable communities in a dense, mixed-use environment.