In her address to the National Press Club today, Universities Australia Chair Professor Deborah Terry will say Australia is missing opportunities to make our own future.

Professor Terry will say: “Not enough of our inventions are being commercialised in a way that creates new industries and jobs, here, in Australia.”

“Industry needs to be less risk averse – and embrace the potential of R&D, at scale.”

“Governments need the right policies, incentives and messaging to foster entrepreneurship and innovation.”

“And universities need to engage meaningfully with the real world, and push at the boundaries of disciplinary knowledge.”

In his first major speech as Education Minister, Alan Tudge said the Government wants universities to work more with businesses and governments to translate research into breakthrough products, new businesses and ideas to grow our economy and strengthen our society.

“We agree with the Minister that our university researchers must be at “the beating heart” of Australia’s economic comeback,” Professor Terry will say.

“By working in closer partnership with Government and industry, we want to play a greater role in lifting productivity, boosting the diversification of our economy, and creating new jobs.”

Professor Terry will say it remains critically important to Australia’s future prosperity that universities continue to invest in basic research.

She will go onto say: “With that in mind, we welcome the consultation paper released recently by the Government’s Research Commercialisation Taskforce.”

“Our universities will be bold and ambitious in their responses. We will seek out new ways of engaging and collaborating.”