Universities Australia Chief Executive Catriona Jackson said: “universities welcome the launch of the consultation paper as an important step in a key discussion for the nation.”

“The research commercialisation discussion is an important one. We look forward to continuing the work with Government and industry to determine how to better translate and commercialise great Australian research.”

“The government’s $1 billion for research in the October budget was a very important acknowledgement of the national value of Australia’s research effort. It has, and will continue to, save research jobs and research capacity.

“‘Scaling up’, commercialisation and translation capabilities is an important aim in the drive to become an even more knowledge-based economy.”

Minister Tudge acknowledged the world class nature of Australian research.

“Our nation is home to thousands of exceptional academics and researchers – professors who are known and respected around the world and emerging experts whose work is on the cutting edge of human knowledge,” he said.

“We should feel great national pride in the contributions our university researchers have made to the world’s knowledge.”

Universities Australia will also prepare a detailed sector-wide response.