The university's Intelligent Polymer Research Institute has received the first funding of a joint program between the NSW Government and the South Korean province of Gangwon.

The Minister for Science and Medical Research, Jodi McKay, visited UOW yesterday to announce the grant and inspect the new Innovation Campus at Fairy Meadow.

The researchers from Wollongong and South Korea will join forces to develop a high performance energy storage device.

"This device is going to have huge benefits for electronic devices such as mobile phones and digital cameras," Ms McKay said.

Researchers planned to use nanotechnology to create a gadget that combines the benefits of lithium-ion batteries and supercapacitators. Lead researcher Professor Gordon Wallace said the research could also have an impact on both wind and solar power technologies.

"There's always the unpredictable and that's the really exciting part of this kind of research," Prof Wallace said.

"We have some of the best facilities in the world."

Ms McKay was given a tour of the new campus and the chance to observe scientists at work.

"It looks spectacular," she said. "This is for the next generation.

"This is one of the most progressive and innovative tertiary institutions."