MWEP - looking to training to develop commercially orientated research

Murdoch Westscheme Enterprise Partnership (MWEP) was established to fast-track the development and commercialisation of research projects undertaken at Murdoch University. A number of exciting research projects funded by MWEP have commenced and have tremendous commercial potential. Indeed, MWEP's expansion over the past year has exceeded the expectations of its partners.

In order to achieve its objectives, MWEP consults with many people to identify and find ways to overcome obstacles to the development and commercialisation of research projects. For example, MWEP's discussions with researchers, the Executive and PhD students at Murdoch University revealed that no course offered specific training in developing a research project into a commercial opportunity. MWEP recognised that having such a course would not only show researchers how to develop their research to attract investment, but also emphasise to the researchers that their 'innovation' could have commercial applications.

In response, MWEP and the Murdoch Business School developed the Technology Management Training course to provide participants with an insight into investor versus researcher perspectives and drivers. The course also enables participants to better capture the synergies between research and business, gaining better access to jobs and government/private sector grants.

The first Technology Management Training courses were run in April and May this year for PhD students and researchers. They were well received. Since then, the Executive of Murdoch University's science schools have undertaken to attend the Technology Management Training course themselves to show their commitment to ensuring that the focus of research conducted at Murdoch University is commercially oriented.

The focus of government and the private sector has continued to shift towards commercially-oriented research tailored to industries' needs. Indeed, more government funding programs require a commercial approach to innovation as a condition of providing financial support. For example, one of the eligibility criteria for AusIndustry's 'Commercialising Emerging Technologies' (COMET) Program, is that 'the proposed innovation has commercial potential'.

In the private sector, there has been weak support for research and development programs (less than 0.05% of GDP in 2003), which indicates a lack of confidence in researchers' capacity to develop technology-based commercial opportunities.

Through the Technology Management Training course and other initiatives, MWEP helps researchers to adapt to this environment and ensure that their research becomes commercially oriented.

For more information about MWEP visit our website at www.intellectualprofits.com.au.