innovationXchange - Australia’s new aid paradigm

Today I launch innovationXchange – an Australian Government initiative to revolutionise the delivery and effectiveness of Australia's aid program.

The $140 million project, the next phase of the Australian Government's new aid paradigm, will mainstream innovation throughout the Department of Foreign Affairs and Trade.

I am pleased to announce the first three innovationXchange initiatives; the Data for Health partnership with Bloomberg Philanthropies, SEED Pacific and the International Reference Group.

The US$100 million Data for Health partnership is the first of its kind for the Australian Government (US$15 million) and for Bloomberg Philanthropies (US$85 million). It will build the capacity of governments in developing countries to collect vital health information quickly and efficiently. This comprehensive new data will allow us to shape policies and priorities to better address health challenges.

SEED Pacific will ensure the best new development ideas, approaches and players are mobilised to benefit our immediate region, the Pacific. This $20 million initiative will broker and support partnerships between global businesses and local organisations to solve seemingly intractable development challenges.

To support and drive forward this new way of working, I have established an International Reference Group. This group of global leaders will help identify and connect us to exciting opportunities, expand our networks and track emerging trends in their varied fields, including technology, innovative finance, philanthropy and social enterprise.

innovationXchange will begin its operations with former World Bank Chief Innovation Officer Chris Vein at the helm for a two-month secondment. We will then look to other secondments from the private sector, non-government organisations and philanthropies.