tech startup innovation hub
(Image: Getty)

Every so often a local, state or federal politician makes a push into the 21st century by announcing an "innovation hub" or fund with the end goal of creating jobs and boosting the economy.

While buzzwords like "innovation" suggest something transformative that adds value -- connecting local businesses to something bigger, driving collaborations -- the impact that these centres have had (when they manage to take off in the first place) has not been quantifiable at all.