Tag Archives: Greg Hunt

CRC funding

CRC funding priorities: a welcome change

Minister Greg Hunt has signalled a potentially very important change to the Cooperative Research Centres Program. He wants to have the ability to call for, or prioritise, national interest themes in future  CRC funding rounds – for both Cooperative Research Centres and CRC-Projects. The CRC Association fully supports the Minister’s move.

Priorities for CRC funding rounds are not new. A number of existing CRCs were established as a result of the “priority public good” stream under the previous Labor Government. Ministers have often signalled several priority areas at the commencement of the funding round.

However, sometimes the priorities given were simply too vague to garner a meaningful response – I well remember debates about what “social innovation” meant when it was given as a priority. Calls for CRCs out of sync with the normal competitive funding round have also occasionally caused some confusion.
 
Through his media release today, Minister Hunt is doing things a bit differently. Firstly, he is seeking the views of the community on what issues should be prioritised.

Secondly, he is clear that any prioritised areas will need to be competitive and assessed on their merits in line with the normal processes.

Thirdly, and very importantly, he has said that the CRC program is open to all sectors and any prioritised areas will be in the national interest.

He has even gone further and named some example areas that many people would perceive as excluded by the current guidelines. 

The fast turnaround for consultation will allow for the coming Round 19 of the program to be impacted by the change.

– Tony Peacock

CRC funding
Tony Peacock is the CEO of the CRC Association and founder of KnowHow.

This article on CRC funding was first shared by the CRC Association on 21 December 2016. Read the original article here.

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The spirit within

innovation

Innovation breathes new life into old business

Featured image above: the Minister of Industry, Innovation and Science delivering his address at the AFR National Innovation Summit 

Innovating isn’t just about creating new businesses – it’s also about transforming the old.

This message formed the crux of the Hon Greg Hunt’s speech at the Australian Financial Review’s 2016 National Innovation Summit as he presented plans for his portfolio as Minister for Industry, Innovation and Science.

“Innovation is about the new firms absolutely, unequivocally…but also the existing firms,” said Hunt, insisting that the latter should be innovating through “new or improved goods or services, new processes or new business models.”

Pointing to Dulux, CSL, Telstra and BlueScope as examples of Australian veterans who are thriving through investments in R&D, the Minister warned that less-savvy business won’t be bailed out.

“We can’t prop up existing, failing services,” he said. “They have to be able to compete.”

The need for speed

According to other leaders at the AFR Innovation Summit, the window of opportunity is closing for some of Australia’s oldest and largest corporations.

Data61 CEO Adrian Turner says he returned to Australia after 18 years in Silicon Valley because he was concerned about Australia’s pace of change. He believes Australian businesses don’t have long to get on board the age of digital and data-led markets.

“We have a five to 10-year window,” says Adrian.

Chairman of the Australian Advanced Manufacturing Council, John Pollaers, pointed out that although the world has moved into the fourth industrial revolution – the merging of the physical and cyber worlds – many companies are still working their way through the second and third industrial revolutions of electrification, automation and IT.

“If we underestimate technology we will fail,” says Pollaers. “If we underestimate the resistance to change and innovation, then we’ll also fail.”

Maile Carnegie believes companies need to stop ‘hand-wringing’ and start taking action.

“Our financial institutions, if we don’t get them moving, are in for a world of hurt,” says the former Google MD, who recently joined ANZ as Group Exec of Digital Banking. “Banking is a massive data play – those industries are getting disrupted.”

“We know what we need to do so we need to move the conversation to doing it…At the end of the day strategy is all about making some choices.”

So how can old businesses achieve innovation?

“Fail fast, fail cheap, pivot,” suggests Suzana Ristevski, Chief Marketing Officer and Head of Strategy & Growth for GE Australia, New Zealand and Papua New Guinea.

With speed and agility considered vital to innovation but difficult in large businesses, CommBank has turned to partnering with startups.

“They have the agility, we have the scale, so it’s a pretty great marriage,” says Tiziana Bianco, head of the CommBank’s Innovation Lab.

Corporate law firm Gilbert and Tobin have also invested in ‘self-disruption’ to avoid becoming obsolete, positioning themselves as a ‘market disruptor’ and increasing their stake in startup LegalVision to 20% at the start of August.

BHP Billiton, who was forced to cut its dividends by 75% in February this year, has moved to a five-point plan (see The big three drivers to job growth).

  1. Hastening production
  2. Accelerating technology competencies
  3. Creating innovation hubs to address innovative solutions to specific challenges
  4. Setting up programs to build from the inside the company
  5. Forging partnerships with unis, CSIRO, and CRCs

When asked at the AFR Innovation Summit what would happen to jobs if they innovated through automation, BHP’s CTO Diane Jurgens said her company is upskilling existing workers; taking them off machinery and teaching them to operate machines from the safety of a control room.

Group CEO & Managing Director of Domino’s, Don Meij, told the summit’s audience that if we don’t take our skills ‘upstream’ in this way, we will simply miss out on the market altogether.

– Elise Roberts

commercialisation

Commercialisation boost for businesses

The Turnbull Government has announced that twenty businesses across Australia will be offered $11.3 million in Entrepreneurs’ Programme grants to help boost commercialisation and break into new international markets.

A 3-D printed jaw joint replacement, termite-proof building materials and a safer way to store grain outdoors are amongst the diverse products and services that will be fast-tracked.

The grants range from $213,000 to $1 million and are matched dollar-for-dollar by recipients.

So far, the Government has invested $78.1 million since commencement of this initiative – helping 146 Australian businesses to get their products off the ground.

The grants help businesses to undertake development and commercialisation activities like product trials, licensing, and manufacturing scale-up—essential and often challenging steps in taking new products to market.

Projects supported by today’s grant offers will address problems and meet needs in key industries including food and agribusiness, mining, advanced manufacturing and medical technologies.

The 20 projects to receive commercialisation support include:

  • a safer, cheaper and more efficient outdoor grain storage solution for the agricultural industry
  • recycling technology for fats, oils and greases from restaurants that will save money and reduce pollution
  • a lighter, stronger and more flexible concrete product
  • an anti-theft automated security system for the retail fuel industry
  • a cheaper, faster and safer decontamination process for mine drainage
  • smaller, cheaper and more patient-friendly MRI technology used for medical diagnostics
  • a 3-D printed medical device for jaw joint replacements that reduces surgery risk and improves patient quality-of-life
  • insect and termite-proof expansion joint foam for the building industry, combining a two-step process into a single product.

The Entrepreneurs’ Programme commercialisation grants help Australian entrepreneurs, researchers and small and medium businesses find commercialisation solutions.

It aims to:

• accelerate the commercialisation of novel intellectual property in the form of new products, processes and services;
• support new businesses based on novel intellectual property with high growth potential; and
• generate greater commercial and economic returns from both public and private sector research and facilitate investment to drive business growth and competitiveness.

This information was first shared by the Minister for Industry, Innovation and Science on 17 August 2016.