Commercialising Engineering Research in Australia

This paper describes some of the steps in commercialising engineering research in Australia. The experiences of the author in patenting her research and taking steps to commercialise it are described. The patenting process is outlined. Possible ways to make money from a patent, include licensing the patent to a large company or creating a start-up company. Practical information about both of these approaches is given. The role of the varying funding sources available in Australia is explained. Would-be entrepreneurs are often required to give presentations or ‘pitchs’ to potential investors. The role of the ‘pitch’ is described. A number of recommendations about how universities could remove some of the barriers to commercialisation, such as the emphasis on published papers in promotion criteria, are given.