Go8 Comments on Federal Government's "Commercialisation Australia". (October 22, 2009)

Yesterday the Federal Government announced details of its $196 million "Commercialisation Australia" initiative and Professor Alan Robson, chair of the Group of Eight was quick to welcome the announcement noting it: "aims to get Australian ideas to market and create jobs."

Professor Robson went on to say: Commercialisation of university research is increasingly an important activity of a university's knowledge transfer activities. Commercialisation Australia will assist the university sector in its engagement with industry by building on the very successful activities in collaborative industry-based research, technology transfer and commercialisation currently being undertaken at universities.

The provision of support of funding for proof of concept activities, and repayable funding of up to $2 million for early stage commercialisation activities is particularly welcome and will help university researchers turn the best ideas into commercial realities.

The Group of Eight commends the Australian Government for its commitment to supporting commercialisation as demonstrated by this initiative and we look forward to working closely with Commercialisation Australia.