{"id":2610,"date":"2016-10-11T17:03:48","date_gmt":"2016-10-11T07:03:48","guid":{"rendered":"https:\/\/wimr.org.au\/?post_type=wimr_news&#038;p=2610"},"modified":"2024-09-30T18:26:29","modified_gmt":"2024-09-30T08:26:29","slug":"ferris-says-commercialising-research-is-the-great-challenge-and-opportunity-of-our-time","status":"publish","type":"news","link":"https:\/\/wimr.org.au\/news\/ferris-says-commercialising-research-is-the-great-challenge-and-opportunity-of-our-time\/","title":{"rendered":"Ferris says commercialising research is the &#8220;great challenge and opportunity of our time&#8221;"},"content":{"rendered":"<p class=\"lead\">The chair of Innovation and Science Australia, Bill Ferris, has called for greater collaboration between Australian businesses and publicly funded research institutions such as The Westmead Institute, and warned about the consequences of failing to achieve increased commercialisation of research.<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/5AnRrNpBqAY?wmode=transparent&amp;fs=0&amp;autoplay=1&amp;rel=0&amp;enablejsapi=1&amp;version=3\" width=\"800\" height=\"500\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>Addressing a Westmead Research Hub seminar at The Westmead Institute, Mr Ferris said Australia\u2019s research excellence in translation and commercialisation is Australia\u2019s \u201cgreatest challenge and opportunity of our time\u201d, and wants to see a greater focus on increased collaboration and commercialisation of Australian research<\/p>\n<p>\u201cBetter translation of research into commercial outcomes underpins economic growth and global competitiveness,\u201d he said.<\/p>\n<p>And, he issued a warning: \u201cIf we fail to translate research into commercial outcomes, we will sell Australia short on jobs, economic growth and quality of life.<\/p>\n<p>\u201cA future Australia must be propelled by its knowledge intensive sectors, one such stand-out sector is health and medical research.\u201d<\/p>\n<p>An economic study by Deloitte, commissioned by the Westmead precinct partners, revealed that Westmead has the potential to become a world-leading Innovation District with a cluster of up to 50,000 knowledge jobs by 2036.<\/p>\n<p>Mr Ferris said the proposed Westmead Innovation District was an example of how collaboration between business and research institutions could deliver for the Australian economy and the health and well-being of Australians.<\/p>\n<blockquote class=\"quote\"><p>\u201cThe Westmead Innovation District has the potential to deliver many thousands of skilled jobs by 2030 on the back of continuing medical discoveries, clinical demonstration of improved health outcomes, and success for new medical products and services in domestic and world markets,\u201d Mr Ferris said.<\/p><\/blockquote>\n<p>In introductory remarks, the Chief Commissioner of the Greater Sydney Commission, Lucy Turnbull, told the seminar said it would be \u201chard to exaggerate the importance\u201d of places like Westmead in the post-industrial era.<\/p>\n<blockquote class=\"quote\"><p>\u201cWestmead\u2019s planned developments offer a once-in-a-generation opportunity for private and<br \/>\nnon-government businesses to come together and leverage off each other,\u201d said Mrs Turnbull<\/p><\/blockquote>\n<p>More than $3.4 billion has already been earmarked by government, universities and the private sector for investment at Westmead over the next decade, including new health services, education, commercial and residential facilities and development of the Parramatta Light Rail.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chair of Innovation and Science Australia, Bill Ferris, has called for greater collaboration between Australian businesses and publicly funded research institutions such as The Westmead Institute, and warned about the consequences of failing to achieve increased commercialisation of research. &nbsp; Addressing a Westmead Research Hub seminar at The Westmead Institute, Mr Ferris said Australia\u2019s [&hellip;]<\/p>\n","protected":false},"featured_media":2611,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}}},"categories":[19],"class_list":["post-2610","news","type-news","status-publish","has-post-thumbnail","hentry","category-cat-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/news\/2610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/media\/2611"}],"wp:attachment":[{"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/media?parent=2610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wimr.org.au\/wp-json\/wp\/v2\/categories?post=2610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}