Super agreement to boost research funds at Murdoch

MURDOCH has signed a memorandum of understanding (MOU) with Westscheme, a leading Western Australian superannuation fund to establish a trust fund for commercialising the University’s research.

The terms of the trust will see Westscheme invest in those University projects demonstrating strong commercial potential over a 10-year period, for a return on the fund’s investment upon commercialisation of the project.

This collaboration between Murdoch and Westscheme represents a new and best of breed approach to commercialisation that shows universities can be as innovative in their commercialisation activities as they are in their research,” said Murdoch’s Director of Research and Development, Dr Paul D’Sylva.

At a time when universities have an increasingly important role to play in the knowledge economy, this strategic alliance will help to build a bridge between excellent research and excellent commercialisation for the benefit of the parties and Australia more generally. Westscheme’s participation bodes well for Murdoch’s ability to further strengthen its reputation as an innovative university.”

This initiative will secure ongoing sources of funds to help the University, via the Industry Liaison Office (Division of Research and Development), to identify and then support its most promising research to commercial outcomes.

Both Murdoch and Westscheme are currently working together to establish the details of this new approach to funding research commercialisation, and anticipate that the trust will be fully operational in the near future.