Key points
- Research impact extends beyond company creation and publications.
- Australia’s research translation system has its challenges, but programs like ON provide the guidance and support needed to overcome them.
- Collaboration is essential for maximising research impact.
The Australian innovation landscape is filled with success stories addressing some of society’s most pressing challenges. From creating ‘Version 2’ of food as consumption skyrockets, to changing the face of virtual healthcare, the importance of bringing deep tech ideas out of the lab and into the world where they transform critical aspects of human life cannot be underestimated. However, success for researchers is not limited to venture creation or research publication.
The idea that research impact is solely tied to company creation may be the most exciting view, but it’s a narrow one. The picture of success looks different for every researcher and does not necessarily resemble a company or a series of journal-published articles. There are countless ways for Australia to derive value from the research being produced before commercialisation is even considered as an option, or before publication becomes the only option.
Impactful research can include licensing intellectual property (IP) to bring innovations to market through existing companies, consulting on public policy, social enterprise development or joint ventures, to name but a few. In return, royalties, collaborations and partnerships generate substantial social and economic impact.
There are multiple pathways available to create impact within research translation. Examples include, but not limited to: startup, consulting, social entrepreneurship, joint venture, policy, and licensing.
These pathways are often less visible but are no less vital to shaping Australia’s future. It’s our job to shine a spotlight on these pathways, supporting Australian researchers as they take the leap to validate their ideas whilst leaning on the broader innovation ecosystem.
Bridging the gap from research to reality
Lack of experience beyond academia, fragmented funding, dispersed resources and complex institutional responsibilities are just some of the challenges researchers must overcome to find their own pathway to success. These challenges are clear, and we know the current research translation system has room for improvement.
It’s not from a lack of want, rather the pathway to translate research into real-world impact is difficult, convoluted, and time intensive. Launching a traditional startup presents entrepreneurs with a clear pathway. But bringing a deep tech idea or innovation to life has less well-defined structures and support systems, with alternative pathways often lacking visibility and clear frameworks.
The ON Innovation Program exists for this very reason, taking researchers out of their comfort zone whilst providing support as they navigate unfamiliar terrain. Over the years, we have continued to evolve the Program to account for the diversity of impact pathways.
Poppy Sykes, ON Innovation Program Manager speaking at the ON Accelerate 8 Demo Day in Sydney
Our early stage ON Prime program, for example, now not only helps research teams validate the market through customer discovery but also empowers teams to understand the wide variety of pathways available to translate their research to market and then identify the most appropriate.
ON bridges the gap between academia and industry, possessing specialised expertise cultivated over decades of leading scientific exploration and collaboration to shepherd researchers through their journey. We’ve proven how when researchers have access to an ecosystem of mentors, experts and peers capable of providing tailored advice, researchers can translate discoveries into real-world impact in a variety of different ways.
So far, ON alumni have raised more than $414 million in investment capital and attracted over $330 million in commercialisation grants to catalyse far-reaching innovations. To maximise the opportunities and innovations being created in the minds of our smartest and most dedicated researchers, we need coordinated industry support.
A call for collaboration
Increased proactivity and collaboration between industry, government, and academia is essential to supporting emerging deep tech ideas and sustaining ongoing economic and societal impact. Public and private sectors must work together to create an ecosystem that recognises the contributions of researchers far beyond traditional venture creation metrics.
This shift in thinking comes at a critical point in the local innovation industry, with Australia’s Group of Eight Universities finding that despite its ongoing success, research and development intensity has been declining over the past decade. The result is a growing gap between the innovation capabilities of Australia and its fellow member countries of the Organisation for Economic Cooperation and Development.
Researchers need to see immediate change through increased collaboration, funding and public recognition for the economic impact they provide when alternative research pathways are unlocked. IP rights alone accounted for 35 per cent of Australia’s GDP and contributed more than $6.4 billion in research and development in 2023.
We’ve seen firsthand what happens when researchers are given access to the resources and networks required to explore the pathways available to them. One idea that recently became a reality is Dragonfly Thinking, an AI platform pioneering a new frontier in Think Tech – helping people think in less siloed ways and recognise different perspectives in complex environments before making strategic decisions.
Dragonfly Thinking – an ON Accelerate alumni team
The founders, Professors Anthea Roberts and Miranda Forsyth, recognised they’d created something extremely unique, but were uncertain about how to proceed. Following their journey through the ON Program, including trials and engagement with potential customers, they recognised the capabilities of their technology.
The winner of Australia’s inaugural National AI Sprint competition, Dragonfly Thinking is now being used by governments and corporations around the world as a strategic decision-making tool.
Dragonfly Thinking exemplifies the impact of venture creation through research, but it’s not the only path. Countless ON Program alumni are showcasing why we must redefine research success and position researchers as catalysts for change across multiple domains.
Researchers like Dr Kieran Mulroney and Dr Christine Carson, founders of Cytophenix, who are now working in partnership with Atamo Innovations to deliver personalised precision medicine. Or the team behind A14.0S, who recognise the potential of licensing in customised technology servicers. These researchers deserve recognition for their significant innovation and economic contributions, and for demonstrating the diverse pathways to research impact beyond venture creation.
If you’re a researcher in an Australian institution and believe your work could change the world, the ON Program is ready to support researchers at any stage of their journey through to the next level. Get in touch with the team and find out more.
This article, written by Poppy Sykes, ON Innovation Program Manager, was originally published on InnovationAus.com in partnership with CSIRO’s ON Innovation Program, as part of its sponsorship of the 2024 InnovationAus Awards for Excellence.
