The federal government would spend $2.2 billion to commercialize academic research, putting “university innovation and industry collaboration front and center of Australia’s economic recovery.”
The funding includes $1.6 billion over ten years for Australia’s Economic Accelerator, a new competitive funding program to assist university projects in bridging the so-called “valley of death,” the space between the lab bench or research environment and the marketplace, where many good ideas essentially die.
The government’s increased investment is a positive step forward. Here’s why it’s necessary and how it’ll function.
Full Source: Australia has committed $1.6 billion to help research projects become commercialised. Here’s what the money will do
