If innovation is the growth driver for Australian and New Zealand economies, what role can our research institutions play in developing and maintaining a healthy innovation system? Our research outputs are world class, but statistics would suggest that we are failing to turn these outputs into Australasian commercial successes. Technology is created here, but is often commercialised elsewhere due to a number of market factors. If innovation is the answer to our growth needs though, what can our research institutions do to ensure Australasian research is turned into Australasian commercial success?
We have a multitude of co-working spaces, incubators, accelerators to support entrepreneurs. Some are part of universities; others are run by industry and investors. It seems each day brings announcement of yet another startup accelerator/incubator. Are pitching, lean business models, digital marketing and experienced advisors the secret to success?
The answer seems to be yes for software based digital businesses. While medical research has a well established path from research organisation to industry – specialist funds such as the Medical Research Commercialisation Fund support medical startups in Australia and New Zealand through the “valley of death” – it is much more difficult to commercialise other research in engineering, material science and the social sciences.
As such, what can universities and other research institutes do to better support entrepreneurs and the innovation ecosystem in getting great ideas to market? If it can be taught, what should out universities teach?
Join us at #KCA2016 for The Entrepreneurial University session where we have an exciting panel of presenters that will present key lessons learned, strategies for success, explore how research institutions can better prepare staff and students, and what can be done to better convert Australasian research into world class Australasian commercial success.
Senior Manager Commercialisation & Commercial Research, University of Wollongong