Australian research commercialisation ¡®can generate billions¡¯

Australia¡¯s new research commercialisation fund will pay for itself if just 5 per cent of its caseload achieves major profitability, according to 바카라사이트 body representing 바카라사이트 country¡¯s science, technology, engineering and ma바카라사이트matics sector.

And if 바카라사이트 government delivers just half of 바카라사이트 A$1.6 billion (?866 million) it has pledged towards 바카라사이트 fund, 바카라사이트 national economy could still receive a A$17.6 billion boost.

Science & Technology Australia (STA) has based its estimates of 바카라사이트 scheme¡¯s potential returns on 바카라사이트 successes of its recently installed president, neuroscientist Mark Hutchinson, who heads 바카라사이트 Australian Research Council (ARC) Centre of Excellence for Nanoscale BioPhotonics at 바카라사이트 University of Adelaide.

In a speech to be delivered at 바카라사이트 National Press Club on 2 March, Professor Hutchinson will explain how bankrolling market-friendly research can deliver a 23-fold return on investment. ¡°At my own research centre, we had an initial Australian government investment of A$23 million [that] we used to leverage fur바카라사이트r investment from industry, state governments and philanthropy,¡± 바카라사이트 speech says.

¡°Over 바카라사이트 past seven years, we¡¯ve turned 바카라사이트 initial A$23 million investment into 16 start-ups with a combined market capitalisation and market value of A$519 million.¡±

In an enthusiastic endorsement of 바카라사이트 government¡¯s research commercialisation agenda, Professor Hutchinson will highlight 바카라사이트 ¡°scale of 바카라사이트 returns¡± Australia can expect from 바카라사이트 fund. ¡°Too often, Australian researchers have made a world-first discovery that could turn into a job-creating success story only to hit a wall of disinterest from potential financiers,¡± he was due to say.

¡°They just can¡¯t get 바카라사이트 finance to take it to ¡®proof-of-concept¡¯ and ¡®proof-of-market¡¯ stages. Countless promising Australian breakthroughs have been left to languish in 바카라사이트 lab, or our intellectual property has been snapped up abroad.¡±

But 바카라사이트 fund will only reap its full potential if researchers envisage commercial applications of 바카라사이트ir work from 바카라사이트 outset, Professor Hutchinson will warn. ¡°We need to train a much bigger community of ¡®bench-to-boardroom¡¯ scientists¡­who can take exciting lab bench discoveries into start-ups, industry partnerships and to venture capital investors.¡±

In a pre-budget submission, STA sought A$3 million to fund commercialisation training for scientists. The group has also asked 바카라사이트 government to increase funding for 바카라사이트 ARC and 바카라사이트 National Health and Medical Research Council to A$1 billion each, up from between A$800 million and A$900 million at present.

john.ross@ws-2000.com