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Translating research success into economic boost

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The Australian Government has released a discussion paper – Boosting the Commercial Returns from Research – and is seeking feedback from the research community and industry on the development of a national strategy to improve links between universities and industry in order to capitalise on Australia’s research strengths

The discussion paper forms part of the government’s Industry Innovation and Competitiveness Agenda, which focuses on improving Australia’s productivity and global competitiveness.

“Australia is already performing well on research excellence – more than 3.5 per cent of the world’s top highly cited international research publications involve Australian researchers, up from just over 2 per cent in 2006,” says Minister for Industry, the Hon Ian Macfarlane MP.

“But when it comes to collaboration with business our performance falls away, with fewer than 5 per cent of Australian businesses turning to the research sector for new ideas or problem-solving.”

Minister for Education, the Hon Christopher Pyne MP said that the Government’s focus was to address the challenges Australia faces in turning good ideas and research breakthroughs into commercial results.

Initiatives supporting the translation of research into commercial outcomes detailed in the discussion paper include:

  • adjusting research funding to provide greater incentives for collaboration between research and industry
  • supporting world-class research infrastructure to attract the world’s best researchers and facilitate collaboration with industry
  • promoting ‘intellectual property’ arrangements that facilitate collaboration and commercialisation of ideas
  • ensuring training prepares researchers to work with industry and bring their ideas to market
  • improving assessment of the research system and research outcomes and their impact.

“A national strategy to create stronger links between research, science and industry is a central plank of the Government’s commitment to boost Australia’s economy, ensuring our competitiveness into the future,” said Mr Pyne.

The research community and business sector are invited to submit feedback on the issues raised in the discussion paper.

The deadline for submissions is 5pm 28 November 2014

Read the Australian Government’s media release issued jointly by Minister for Education, the Hon Christopher Pyne MP and Minister of Industry, the Hon Mr Ian Macfarlane MP: Innovation in research to boost Australia’s economy.

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