The Australian Centre for Innovation was established in 1992, in the form of Australian Centre for Innovation and International Competitiveness (ACIIC Ltd) as an independent non-profit company. Its articles of association included contributing to the objectives of the University of Sydney and the Warren Centre for Advanced Engineering. It has also been deeply involved in developing a better understanding of the changing nature of the global knowledge economy and the means to prosper within it. At the same time, the Centre has continued its research and consulting in the areas of innovation, research and technology policy.
The future of Australias economic success depends in large part upon the development of effective strategies and policies for science, technology and innovation in both the public and private sectors. The most productive and fastest growing economies are developing innovative capabilities as core corporate and public-sector strategies.
More recently, the objectives and operations of the Centre have moved with the changing times, in order to maintain and focus on current and future pressing issues. This has seen the Australian Centre for Innovation pioneer the development and application of foresight in Australia, and around the world, with the objective of injecting a stronger future orientation into strategic planning.