The IERG is concentrating on innovation and entrepreneurship and how they manifest in the context of new markets, new products, and new business processes. The Group is also concentrating on understanding and developing the following key areas of knowledge:
- Business innovation and its ecosystems, for example alternative business models for high-value Australian products.
- Innovation and entrepreneurship in the creative industries, specifically the implications of value creation and exchange in the creative industries (for example publishing, film, and design)
- How entrepreneurial activity can be identified and measured. This project includes the Eurostat - OECD
- Social entrepreneurship, in particular the geographical, cultural and structural issues confronting business in remote and indigenous Australia
- How entrepreneurial activity manifests in developing economies (specifically India, China, and South East Asia)
- How corporate entrepreneurial activity is managed/encouraged in mature Australian corporations, particularly in the context of seeking new international markets.
- The internationalising and innovative behaviours over time of ventures with highly-valued intellectual property
The MERCK Foundation has recently granted IERG $550,000.00 to research the lifecycle development of IP-rich Australian firms as they innovate, globalise and grow.