The Group of Eight (Go8) delegation led by two Vice Chancellors has this morning delivered its “Innovation 2016” plan (outlined in attached communique) to Industry, Innovation and Science Minister, Christopher Pyne.
The broad plan sets out how the Go8 will lead the Government’s economic and productivity push through its industry and innovation actions.
“It is exciting for our universities to be at the forefront of the Government’s policy direction,” says Group of Eight Chief Executive Vicki Thomson. “We have always been the crucible of the nation’s basic and applied research. We now find ourselves with a Government as determined as we are to significantly further develop these areas. We can, we will and our “Innovation 2016” work plan sets out how.”
The Go8 currently produces 62% of the start-ups out of Australia’s university sector and has 80% of the sector’s commercialisation income. Income from industry research is twice that of the rest of the sector combined. The Go8 has been highly successful in ensuring our basic research has a significant and global impact for the community. As an example, in 2014 just three spin-offs alone generated some $2Billion.
“We also have 74% of the sector’s patents” says Ms Thomson. “While we are pleased with those statistics there is much more that can be done with increased industry involvement and the range of decisions contained in our work plan. The Go8 has much to offer Australia. With the Government policy direction we feel that finally this is being harnessed and that is vital for the nation’s economic future.”
Contact: Vicki Thomson, Group of Eight Chief Executive on +61 438 047 155