In most advanced economies of the world, entrepreneurs, small businesses, and inventors are important sources of innovation. Universities contribute to technological innovation too, playing a key role in the innovation system through knowledge production and knowledge transfer to the private sector. Inevitably, except for the largest of vertically integrated companies, an essential step in the innovation process – delivering value to a market –requires collaboration for the transfer of knowledge and creation of value.
It has been eight years since the Australian Institute for Commercialisation (AIC) first began its work as a collaboration facilitator and an innovation coach. One core activity has been assisting Australia’s smallest companies to benefit from publicly-funded knowledge and research, many for the first time. We have experienced a mixed reception from governments, with only a few visionary political leaders prepared to tackle the market and system failures that have prevented strong commercialisation outcomes from being achieved. Some governments have not even tried, or worse, actively discouraged such commercialisation through their “passive-aggressive” behaviour. Many have looked in the wrong places, lost interest, or have gone back to square one in a vain attempt to reinvent the wheel for themselves, so it is their wheel.
What’s happened to innovation over that period? Has commercialisation, the innovation step that results in new business activity, changed? This article looks at the new trends and changes we have observed, and one big myth that continues to persist.
To read the full, original article click on this link: The Australian Institute for Commercialisation - What’s happened to innovation? Seven Trends and One Big Myth
