The Abbott Government has announced a review of university research funding and policy.
Education Minister Christopher Pyne announced the review under the Government's 'Agenda for Action' under the 'Boosting the Commercial Returns from Research' strategy.
The review will be led by former Secretary of the Department of the Prime Minister and Cabinet, Dr Ian Watt AO, with the assistance of a small working group of experts.
One of the key terms of reference is the development of measures to enhance the relationship between researchers and industry, and the commercialisation of intellectual property.
According to the terms of reference, the review will identify ways to "encourage universities to engage in research commercialisation and knowledge transfer with industry and the broader community, including through funding incentives and a focus on more effective management of intellectual property, and ensure that competitive grant criteria recognise the quality of the proposal and where appropriate the opportunity for commercialisation and collaboration with industry."
Australia's poor record of commercialising research has been the focus of successive government and independent reports.
The Mckeon Strategic Review of Health and Medical Research in Australia announced under the former government recommended the development of an enhanced “culture of commercialisation” and “exchange between research and industry”.
"Relative to the number of papers published and patents issued, Australia lags in key global commercialisation benchmarks and in creating significant public companies, commercial products, jobs and income," it said.
It made a series of detailed recommendations on creating a culture of commercialisation, including specific changes to research funding programs, and even internships between industry and research institutes.
Despite the new review's focus on commercialisation, the working group of experts appointed to assist Dr Watt does not include anyone from a research-based industry.
It is comprised of five eminent Australian academics and researchers, but nobody from a research-based industry.
The review will include stakeholder consultation and a report will be provided to the Minister for Education and Training before the end of November 2015.