A review of the NSRC (the Review) is currently being undertaken to ensure future collections are relevant, align with current and emerging priorities for research commercialisation in Australia, are targeted to sector priorities and comparable with international data sources. Consideration of new metrics including options to introduce research/industry engagement measures will be included in the scope of the review.
Australia’s publicly funded research community includes universities, publicly funded research agencies, medical research institutes and other research organisations. By international standards Australia performs well in terms of research excellence and output, but poorly in translating publicly funded research into commercial outcomes .
A key reason for this is the insufficient transfer of knowledge between researchers and business. Australia ranks 29th and 30th out of 30 OECD countries on the proportion of large businesses and small to medium enterprises (SMEs) collaborating with higher education and public research institutions on innovation. The Australian Government is actively implementing policy incentives that will improve the translation of publicly funded research into commercial and broader public benefits. This includes 2014 budget measures such as the Entrepreneurs Infrastructure Programme and proposals announced as part of the Industry Innovation and Competitiveness Agenda and the Boosting the Commercial Returns from Research Discussion Paper .
Consistent with the policy objective to improve research industry collaboration and commercialisation and thereby lift Australia’s productivity, prosperity and international competitiveness, the Government will refocus the NSRC. This includes capturing new and robust data that will provide a comprehensive picture of research commercialisation in Australia including pathways to commercialisation.