The Australian Academy of Science welcomes the Australian Government’s University Research Commercialisation action plan which contains a range of targeted and positive policy measures to further stimulate the commercialisation of research.
The Academy has identified several opportunities which would further enhance this suite of measures and that we recommend be considered in the implementation phase.
Responding to the announcement, President of the Australian Academy of Science, Professor John Shine, said Australia stands to benefit from the government’s renewed focus on science, innovation, and creative entrepreneurialism.
“Government has a unique role to play in bearing risk that the private sector will not take on, and measures to bridge the valley of death are welcome,” said Professor Shine.
“By supporting new ideas and discoveries that underpin innovations and products, we can improve the lives and livelihoods of all Australians. Research discoveries form a pool of intellectual capital that can be developed within Australia and globally.
“Australia will continue to rely on its strong track record of scientific discovery as the critical base for translation into commercial outcomes. Measures to stimulate commercialisation cannot come at the expense of support for basic research.
“Australian universities must be supported to operate across the continuum of basic to applied research and both academics and industry must be incentivised to translate ideas into commercial outcomes.
“Providing adequate and consistent support across the research pipeline requires developing a funding system with a balance between mobilising science to address national priorities, such as manufacturing, and providing researchers with the freedom to work on problems that may – and usually do – provide the basis of future industries, services and technologies.
“Given the complex nature of research funding and the myriad stakeholders involved, the Academy continues to call for a comprehensive review of the Australian system of research funding.
“This will help determine the most sustainable and effective way to support the research and development our future so heavily relies on.”
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