"We need to get it out of the lab and into people's hands," she said.
"Productivity has stagnated across the last decade, technology is important to help make that transition.
"IoE is not necessarily about strictly squeezing value out of data, but about disruptive market models and their flow on effects."
Much as how CSIRO has been able to monetise many of its inventions, such as WiFi, Harvey believes that taking our knowledge based IP and selling it overseas is key.
"It will create knowledge intensive exports and jobs of the future," she said.
"That has got to be the future for Australia."
Bloch said that the program will eventually open up to more universities and partners, and is building a equipment building lab for IoT - which will help provide the IoT end-to-end infrastructure the market will need.
The company also plans to reach out to New Zealand institutes via a hub spoke model, but the details have not been confirmed.
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