A recent initiative by the South Australian Government appears to have delivered a dramatic boost to the capacity of the state's researchers to secure their intellectual property.
Since the introduction in 2011 of the $1 million 'Intellectual Property Management Initiative', which provides grants for researchers to capture and protect their ideas and technologies, the number of provisional patent filings for research has risen dramatically.
In the three years prior to its introduction, 57 provisional patents were filed. That almost doubled to 109 in the following three years.
Science and Information Economy Minister Gail Gago said, “This 90 per cent increase in just three years is a very positive step towards the creation of new high tech enterprises and jobs in South Australia."
Provisional patent protection allows the early involvement of potential industry partners without the risk of losing valuable intellectual property.
Examples of patented products include a genetic diagnostic test for an epileptic condition in babies known as Benign Familial Infantile Epilepsy Seizure. With the patent secured, the technology has been licensed to a leading company in the neurological disease diagnostic market.
Another example is a newly discovered prostate cancer biomarker that helps diagnose prostate cancer. Commercial negotiations with interested parties are underway.
According to Ms Gago, “The potential benefits that could flow from the successful commercialisation of this research – in terms of industries, jobs and income for South Australia - are significant.
“Translating the knowledge and ideas acquired from that research into commercial products, jobs and income for South Australia is critical to our future,” Ms Gago said.