Located in Springfield Town Centre, IDEA City is a district themed on Innovation, Design, Entrepreneurship, and the Arts complementing the other precincts in the city centre.
Surbana Jurong’s scope of services for the IDEA City project includes market validation, investment promotions, and the formulation of a development strategy. The initial market validation and sounding results for IDEA City were poor, indicating a nascent market with little to no interest from companies to start and build their businesses within the envisioned district. In response to this challenge, SJ provided alternative solutions for IDEA City.
Rather than solely focusing on building real estate spaces, SJ recognised the need to revitalise the areas surrounding the Springfield City Groups’ Headquarters to kick-start the innovation ecosystem.
Leveraging the existing working population within the Springfield City Group’s Headquarters, SJ proposed fundamental factors that could position Greater Springfield as a base for innovation and knowledge activities. They identified the need for vibrancy and density within the Parkside area, which serves as a nexus for directing larger institutions, growing SMEs, and multinational corporations into IDEA City.
One of the key challenges identified was the limited awareness of Greater Springfield among international MNCs and even Australian companies. International companies typically prioritise locations like Sydney and Melbourne when venturing into Australia. To address this, SJ emphasised the importance of government-level engagement to raise the profile of Brisbane as a destination for business operations, subsequently presenting Greater Springfield as a differentiated location. However, these efforts alone are not expected to immediately attract companies to Greater Springfield.
The improvements delivered by SJ involve a strategic shift in the approach to IDEA City, considering the current market conditions and the need to attract research and innovation initiatives. By focusing on creating the right environment and attracting key players in the technology and research sectors, SJ aims to rejuvenate the innovation ecosystem within vicinity of Springfield City Group. This repositioning, coupled with the existing infrastructure and services in the area, will pave the way for the successful development of IDEA City as a thriving hub for innovation, entrepreneurship, and the arts.
Connect with Us
Senior Manager, SJ CityGlobal, Surbana Jurong
Email: [email protected]
Image credit: Wikiforgood