Australia still a newbie when it comes to commercialising research

Performance Review of the Australian Innovation,
Science and Research System (ISA Australia)

Performance Review of the Australian Innovation, Science and Research System (ISA Australia)

Australia is still failing to commercialising its research breakthroughs, according to a new Innovation and Science Australia (ISA) report. 

Innovation and Science Australia chair Bill Ferris released the Innovation System Review today. The ISR shows that poor performance in knowledge transfer and application may be partially explained by Australia’s low rates of collaboration and mobility among research institutions and businesses compared to the best innovation nations. 

Ferris said that Australia’s high level of research citations were not reflected in commercialised knowledge and goods.

“In both our number of researchers per capita and the proportion of highly-cited publications we produce, we sit in the top ten internationally,” Ferris said. 

“We are, however, performing relatively poorly in transferring that knowledge and ultimately applying it. It is these activities that create the types of new goods and services that not only improve our lives – think break-through medical technologies, environmentally friendly production techniques and new ways of growing and storing our food – but also provide economic growth and sustainable jobs.”

Ahead of the release of the government’s 2030 Strategic Plan for Australian Innovation this year, Ferris said that there must be more urgency about supporting innovation in Australia.