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Innovation
Innovation = invention + exploitation
AusPat Live! 
AusPat, the new search system for Australian patents, is now in production and is the Australian Patent Office's official source of online data. You can now discontinue using the Patsearch and PATADMIN search systems to look up details of Australian patents or patent applications. AusPat may be accessed through the following link: http://www.ipaustralia.gov.au/auspat/  If you have any questions, please contact the project's Communications Manager, Victor Zalakos at victor.zalakos@ipaustralia.gov.au

The NSW Department of State & Regional Development works with businesses to embrace innovation as a key driver for economic growth, ensuring the State maintains its competitive edge, globally. The NSW Government supports companies developing world-class innovative products and services as well as research centres of excellence that specialise in fields such as nanotechnology, photonics, proteomics, quantum computing and robotics.

Innovation specialists within the Western Sydney IT Cluster Membership include:

Have an idea or innovation? Find out what to do next, with a free one-on-one, fully confidential consultation at the Western Sydney Innovation Advisory Centre for more information...

World Intellectual Property Day - 26 April 2006: Checkout "A day in the life of intellectual property"

Australian Innovation Report 2004-05

Innovation 2005

The Boston Consulting Group has released its annual global survey of innovation

Findings include:

  • The biggest challenge in innovation is not invention, but execution i.e. commercialisation.
  • Commercialisation is more challenging because of new competition, price and cost pressures, shrinking product lifecycles, increasing integration of the world economy and technology shifts. 
  • China, India and other low-cost countries are fundamentally changing the game. In China, there are now more than 180 R&D facilities operated by foreign corporations.
  • Internal or organisational issues are a key concern, regardless of geography. Alignment is paramount, that is, the entire organisation must be on the same page concerning objectives, tactics and commitment.

The report suggests:

  • Get alignment right – have people understanding the value of working together and the right skills and temperament.
  • Spend time on creating an innovative environment.
  • Pick a few performance measures and start tracking.

Australian Business Foundation http://www.abfoundation.com.au/

How Venture Capital Thwarts Innovation

The April 2005 issue of IEEE Spectrum questions the conventional wisdom that venture capitalists are a key player in driving innovation. In the article, How Venture Capital Thwarts Innovation, venture capitalists Bart Stuck and Michael Weingarten review the track records of venture-backed firms between 1992 - 2002. They find that the period did not generate significant innovation, and that the relationship between venture capital investments and innovation is not very strong. Why? They argue venture investors are very risk-averse, and less willing to back truly innovative ideas and concepts. The authors present an interesting look at how venture capital firms operate and how these organisational patterns have an effect on how new innovations are developed. How Venture Capital Thwarts Innovation, by Bart Stuck and Michael Weingarten appears in the April 2005 issue of IEEE Spectrum. It is available to view online.
Commercialisation

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LAST UPDATED 29-May-2008
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