Private equity company Quintessential Equity has been selected by the State Government to deliver the new $400 million Entrepreneur and Innovation Centre (EIC) at Lot Fourteen.

The announcement is another major milestone for Lot Fourteen which is being led by the Department of Premier and Cabinet, with Renewal SA responsible for delivering demolition, refurbishment and development works.

A 16-level EIC will consist of commercial, education, research and networking spaces and will feature a campus-style Innovation Hub capable of hosting around 300 people.

The news comes just weeks after the development application was approved by the State Commission Assessment Panel (SCAP).

Up to 400 jobs will be supported at the peak of construction, with the building scheduled for completion in late 2023.

Lot Fourteen is backed by the South Australian and Australian governments and is a key focus of the $551 million Adelaide City Deal to provide a springboard for innovation and industry.

Amazon was recently announced as the newest precinct partner, joining the likes of the Australian Space Agency, Australian Space Discovery Centre and Mission Control, SmartSat CRC, Australian Institute for Machine Learning, Australian Cyber Collaboration Centre (A3C) and MIT bigdata Living Lab.

Read the full story on the Lot Fourteen website.