Outgoing Australian National University vice-chancellor Professor Brian Schmidt has reflected positively on the growing support for research commercialisation at the institution after his eight-year tenure but believes there is still a “fair bit of work to go”.
He has also flagged the need for more follow-on funding from private investors in Australia for startups to scale locally, describing it as a broader “market failure” that is limiting the development of sovereign capabilities.
Professor Schmidt, who steps down at the end of this month, said support for commercialisation activity at ANU is getting to the point where “we’ve gotten a lot of the low hanging fruit” but he said the next stage will focus on supporting companies to scale more effectively.
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