Australia's biggest unis want a new fund to boost research commercialisation. 

The Group of Eight (Go8) universities are calling on the Federal Government to support early stage research commercialisation with more funding and efforts to better link universities and business.

The Go8 - which supports the interest of Australia's leading research intensive universities -  has made a submission to the government’s review of university research commercialisation.

It recommends creating a translational research fund similar to the Medical Research Future Fund, but focusing on general science and technology, rather than health.

“A committed ‘Team Australia’ approach is necessary, so that the three sectors — universities, business, government — work genuinely together to build a stronger Australian economy,” Group of Eight chief executive Vicki Thomson said.

“To draw together and capitalise in the long-term on the thinking and building blocks discussed, the Go8 recommends the Government establishes an Australian Translational Research Fund, at the heart of which is a nexus of people, ideas, and funding.”

The group also called for “proof of concept” funding that would support more early-stage research. 

“This is where there are the highest risks and the greatest chances of falling into the so-called ‘valley of death’,” the submission said.

The Australian Technology Network of universities made a submission too, calling for more research funding to increase the output of discoveries and innovation with commercial potential.

It also said government research investment should be more aligned with innovation and high-value industrie, including through “collaborative learning hubs” that bring together industry, education and training organisations to encourage enterprise-based learning.

“In addition to direct funding, the scheme will need to be supported by training and capability building across the board — including researchers, commercialisation experts, industry partners, students and graduates,” the ATN said in its submission.

A submission from Universities Australia says businesses need more incentives to collaborate with universities. It called for a scheme to assist small to medium enterprises deal with the risk and expense of developing research outcomes into saleable products and services.

UA also called for the creation of ‘innovation vouchers’ to reward small businesses for collaborating with university researchers.

UA pointed to the German Steinbeis program as an example. This scheme disseminates academic findings, specialised knowledge and technology for industrial applications. 

The Cooperative Research Centres Association’s submission said it is a suitable vehicle for collaborative research with industry, as it combines government financing with contributions from industry and universities. The CRC Association said it achieves an average return of three times the value of the Commonwealth’s contribution.