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Victorian Universities, business and governmnet collaborate to commercialise local smart ideas

Victorian universities, business and government

collaborate to commercialise local smart ideas



Victoria’s universities, the business sector and the State Government are to combine to promote and commercialise local innovative ideas.


The Victorian Chamber Chief Executive Mark Stone AM said the initiative, launched today (Wednesday 14 March) will encourage, foster and guide industry partnerships between Victorian business and the talent within our universities.


Deakin University Vice Chancellor, Jane den Hollander AO said the program offered Victorian businesses the unique opportunity to pursue ideas, work with universities to develop them, and connect with investors to turn them into commercial reality.


Mr. Stone said the initiative came at a time when Australia’s rate of collaboration between universities and business is disappointingly low.


“Annually only nine per cent of Australian small to medium-sized business bring a new idea to market,” he said


The program aims to:

·       affirm Victoria as the knowledge capital of Australia

·       encourage more Victorian business leaders to partner with universities to develop innovative products, services, business, models, or processes

·       create stronger links to other innovative economies

·       attract more students, lecturers and researchers from overseas to Victorian universities

·       attract more students, particularly women, to study science, technology, engineering and maths (STEM)

·       attract business and investment within Victoria


Mr. Stone said Victoria is renowned for its smart ideas and innovative thinking.


“Think of the first flight recording system, perhaps better known as the “black box”, the invention of the cochlear implant, the revolutionary use of lithium as a mental health treatment and the development of polymer banknotes,” he said


“Even every carpenter’s and do-it-yourselfer’s cherished device, the electric drill. They are all Victorian,” he said


The program of events are open to the public. Details available on:


Media contact for interviews: Ellana Katos,, 0400 976 889