Benchmark Research Commercialization and Technology Transfer in Victoria
Over the past several decades, the state of Victoria has established itself as Australia’s higher education leader, with a concentration of universities, researchers, and ideas to rival many of the greatest centers of learning in the world. Despite these tremendous resources, Victoria’s overall ability to harness this research and innovation to stimulate the state’s economy is limited relative to other world-leading centers of education. Whether in terms of partnerships with private industry, technology, patent licenses, or production of new startups, Victoria has found itself at a disadvantage compared with many other ecosystems that have developed around renowned universities and clusters.
In partnership with LaunchVic, the startup agency of the Victoria government, the Milken Institute has set out to conduct a two-part assessment of the tech transfer, commercialization, and entrepreneurial capabilities and environment at different universities in Victoria. This public report discusses the broader Victoria ecosystem, a comparison to similar ecosystems around the world, and leveraging best practices in other countries and regions to help inform and assist policy implementation both in Victoria and Australia as a whole.