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Boosting the Commercial Returns from Research: IRU Submission

Research provides significant benefits for Australians, as individuals, businesses, and communities.

A research system, characterised by innovation, excellence and impact,needs sustainable support from government for universities to work with and respond to research end-users to deliver the benefits of research to individuals, communities and industry.

The Government has made clear its determination to expand the extent of industry driven research that achieves commercial returns as a critical part of its Industry Innovation and Competitiveness Agenda. IRU members are committed to improving industry driven research outcomes, building off their strong research output and capability.

The IRU has identified four crucial issues for the Australian research system each of which address the Government’s aims to improve the commercial outcomes from research. They are:

  1. Strengthening incentives for industry driven research to complement Australia’s extensive university led research outputs
  2. More focus on translational research. Translational research tests the findings of basic research in practical, real world contexts to put the research to work improving products and processes, feeding back the outcomes into the next stages of the underlying research;
  3. Encouraging regional and outer urban research ecosystems that see research conducted and benefits delivered to communities and industries throughout Australia; and
  4. Strengthening Australian interaction with the expanding economies of Asia through linked research systems and support for industry in those countries.

Read more in the attached PDF below.