February 26, 2021

IRU welcomes Government agenda for greater research commercialisation

Government plans to improve the commercialisation of research provide a welcome Government agenda for 2021, the Innovative Research Universities (IRU) group has said – but the Government must provide additional support to make it happen.

Speaking at The University of Melbourne today, Minister for Education and Youth Alan Tudge outlined his positive vision for a University Research Commercialisation Scheme “to better translate and commercialise university research outputs”.

The IRU, which represents seven Australian universities with a research focus on solving real-world problems, supports better structural incentives for businesses to work with universities to improve products and operations. IRU members support innovation hubs across Australia that help small to medium innovators to translate early business ideas into successful companies. More can be done to support this work through government, business and university collaborations.

The IRU will respond constructively to the Government’s consultation paper published today.

Commenting, IRU Executive Director Conor King said:

“It was exciting to hear the Minister’s positive plan for a major step change in how Australia supports translating our world leading research into action.

“Everybody wants to see more commercialisation of university research. The challenge is making sure the right incentives are in place to make it happen.

“Governments, businesses and universities all have a role to play. The renewed focus on commercialisation of research is welcome, but the Government needs to drive the work through additional support for universities.”