At ICN Victoria, we support businesses aiming for a sustainable future. In this Insight Interface article, Tariro Makwasha, our Executive Manager of Customer Strategy & Development, discusses the transport sector’s role in achieving Australia’s net-zero targets and the opportunities for SMEs. Learn more about Tariro’s insights below.
Australia stands at the precipice of a transportation revolution that will reshape our economy, society, and environment. As we race towards ambitious net-zero targets, innovation in the transport sector emerges as a linchpin in our decarbonisation efforts. This transformation, driven by cutting-edge technologies and evolving consumer preferences, offers unprecedented opportunities for businesses, particularly small and medium-sized enterprises (SMEs).
Climate change urgency has sparked a major shift in Australia’s transport landscape. From electric vehicles (EVs) to hydrogen-powered trucks, and from smart traffic management systems to digital twins, these innovations are not just changing how we move—they’re redefining our path to a sustainable future.
Victoria’s commitment to a zero-emission bus fleet by 2025, as outlined in “Victoria’s Bus Plan,” highlights this green transition. This initiative not only promotes sustainable mobility but also creates new opportunities for local manufacturing and green jobs growth.
Beyond Transport
The impact of transport innovation extends far beyond the sector itself. With the global autonomous vehicle market projected to exceed $550 billion by 2030, Australian manufacturers are set to become key players in producing advanced components for these vehicles and their supporting infrastructure, thanks to increased funding for advanced manufacturing and materials.
Digital twin technology, already embraced by 75% of organisations implementing IoT projects, is changing manufacturing processes. By enabling virtual testing and real-time optimisation, digital twins drive efficiency and innovation across industries.
The Role of ICN Victoria
The government plays a crucial role in fostering this innovation ecosystem. As economist Mariana Mazzucato argues, the public sector can serve as a catalyst for innovation, shaping markets through strategic investments and forward-thinking policies. ICN Victoria supports this collaborative effort. By connecting innovative SMEs with major project opportunities, ICN Victoria facilitates the integration of cutting-edge solutions into large-scale infrastructure and transport projects. This not only accelerates the adoption of green technologies but also provides a platform for local businesses to scale and contribute to Australia’s net-zero ambitions.
At ICN Victoria’s Renewables Mixer in February 2024, 300 companies from various backgrounds—universities, government, bus manufacturers, large storage battery solutions, charging systems, environmental analyses, and renewable energy generation—attended and formed collaborations. This event showcased the existing enthusiasm and innovation in Victoria. ICN Victoria is ready to connect more firms to ensure we stay at the forefront of the energy transition sweeping the country.
Systems Thinking: The Key to Sustainable Innovation
To truly harness the potential of transport innovation in driving decarbonisation, we must adopt a systems thinking approach. This means integrating technologies and understanding how they work together and interact with our cities and environment.
Imagine a future where smart traffic management systems seamlessly integrate with autonomous electric vehicles, optimising traffic flow and reducing emissions and crashes. Data from these connected vehicles could improve road infrastructure and urban planning, creating a positive feedback loop of efficiency and sustainability.
Opportunities for SMEs
ICN Victoria plays a pivotal role in this ecosystem, providing SMEs with access to major projects and facilitating collaborations with larger organisations. ICN Victoria supports SMEs enhance their capabilities, enabling them to compete effectively in this rapidly evolving landscape.
Conclusion
As Australia moves towards its net-zero targets, the transport sector is a critical battleground. Through innovative technologies, collaborative efforts, and strategic government initiatives, we have the potential to not only transform our transport systems but to drive widespread decarbonisation across our economy. Organisations such as ICN Victoria fostering collaboration and innovation, and with the ingenuity of our SMEs, Australia is well-positioned to lead the global transition to sustainable transport.
