BLUF

Australia’s future security and economic prosperity depends on developing deep technology organisations that turn research into commercial products.

Summary

Australian science and research is world-class:

  • We produce, per capita, nearly double the scientific research papers as the OECD average.

  • Australia is slow at turning research into commercial products.

Deep technology is a type of organisation that commercialises technological breakthroughs, including:

Some small and large deep technology companies are:

Some reasons as to why Australia is slow at turning technology research into a commercial product?

  • Deep Technology takes time to get to market.

  • Venture capital funding is typically limited to around ten years and may not understand the science.

  • Government funding prioritises basic research. 

  • Much Australian wealth is locked up in real estate.

  • Superannuation funds are risk-averse.

  • Lack of leadership around the benefits of science and deep technology entrepreneurship.

Learn more about converting research into commercial products.

References