UTS researchers recently joined commercialisation experts representing MTP Connect, Australia’s Economic Accelerator (AEA), Uniseed and CSIRO’s ON Program at the Research Translation Cafe to explore pathways for translating research into real-world impact.
Turning ideas into impact
Caption
Leah Lucas, Program Manager CSIRO, presenting in RES Hub
The session began with a fireside chat between UTS Commercialisation Manager Dr Jude Amalraj and Dr Dharmica Mistry, who has been at different times a scientific researcher, a founder and a Chief Scientific Officer.
A health technology commercialisation expert who co-founded BCAL Diagnostics, Dharmica is an impact driven scientist who at age 22 was developing a non-invasive blood test for breast cancer.
Today, Dharmica supports researchers on their commercialisation journeys through her role as a Senior Medtech Commercialisation Specialist at MTP Connect. Dharmica began the conversation by talking about how not every research idea will be translated into a product or service.
“Just because you think it is a good idea, you may not get support for it,” she said, reminding us that not everything you do in research has to be commercialised.
Know your industry
Dharmica spoke about the importance of networking, having a strong elevator pitch and being comfortable with talking to people. She said that you need to keep across current issues and research priorities in the area where your work might make a difference.
Connect with people, go to industry events and conferences to network and be sure to stay in touch with the issues and leaders that are shaping your industry.
“Connect with people, go to industry events and conferences to network and be sure to stay in touch with the issues and leaders that are shaping your industry,” she said, highlighting that you must get to know who are leaders in your field and what the priority funding areas are.
"Form partnerships with industry early on, because that's how you figure out the path to market.”
Collaboration is key
In reflecting on her own research commercialisation experience, Dharmica spoke about the importance of collaboration.
“In the early days at BCAL Diagnostics, we only had one scientist and a tiny team, so we relied on collaboration to bring in the skills and resources we did not have,” Dharmica said, adding that you cannot know everything and that collaboration extends to actively seeking out mentors, finding partners and connecting with interdisciplinary teams early.
“Making these connections will provide you with critical feedback and open doors to new opportunities,” she said.
Find mentors and develop skills
As a founder and a scientist, Dharmica has had support from many mentors over her career.
“I usually found them informally through asking questions about specific issues when I needed advice,” she said, encouraging researchers to be open-minded and proactive in their learning.
“You can ask people questions and generally they are kind and will give you feedback. But no one is going to invest in you the way you can invest in yourself, so it is up to you to ask questions and keep learning,” Dharmica said.
She recommends attending workshops and participating in academic programs that support research translation and commercialisation.
You can ask people questions and generally they are kind and will give you feedback. But no one is going to invest in you the way you can invest in yourself, so it is up to you to ask questions and keep learning.
“All universities have programs and many of the accelerator programs, workshops or events offered by MTPConnect, CSIRO and others are free, so take advantage of these fantastic educational opportunities.”
By focusing on building networks, investing in personal development and being strategic about which ideas to pursue, Dharmica said researchers can maximise their chances of success in turning research into real-world impact.
“Where we see some of the best ideas spark is when we see that interdisciplinary collaboration and cross pollination between different sectors like med tech and ag. That's where we see exciting things happen,” she said.
Gain support from Australia’s Economic Accelerator
James Crowther is the Priority Manager for Australia’s Economic Accelerator (AEA). With a keen interest in aerospace and high-performance computing, he brings over 20 years of experience in startups and innovation, having been involved in three startups across three different industries.
AEA funding is intending to help projects cross the “valley of death” between lab results and proof of concept. James said that to win funding, you must be able to clearly articulate how a research project developed in the lab can be reproduced. To make applications competitive, he advised potential AEA applicants to prioritise testing their ideas with potential users.
“In your application, demonstrate how you have tested your ideas and gained support from potential end users early and often, including customers, investors and partners. Network relentlessly to find out what people want and provide some proof that there is a genuine market appetite for your research product,” he said.
Ensure your capacity to deliver
James said that AEA assessors are keen to see that funded teams have both capability and capacity to deliver.
“When we talk about capacity, we really want to see that you have the resources required to deliver your project. If you do not have the people you need, will you plan to hire extra staff to meet the milestones within our tight program deadlines?” he asked.
Be sure to clearly justify why your project needs AEA funding and how the grant will make a difference.
“With this funding, there is an intent for impact through a project’s commercial potential and market opportunity. Tell us how this grant will make or break whether you can develop a product to the point where it can be validated and commercialised,” he said.
There also needs to be evidence of cash and in-kind contributions from others that will join the AEA in bridging the gap between lab results and real-world impact.
“When you're making an application to the AEA, you're bringing on some kind of commercial partner that could either be a spin out, where your technology is going to go into, or it could be another company that is interested in licensing or acquiring the IP and buying it off you wholesale.”
James warned that AEA funding is highly competitive and as such, researchers should not pin all their hopes on winning it.
“Make this funding source a “nice to have,” not your Plan A. Keep looking elsewhere to build momentum, demonstrate commitment and show how your project will create real-world impact.”
The venture capitalist perspective
Dr Laura Droessler, an Investment Manager at Uniseed, is an experienced commercialisation adviser. Laura shared insights into how venture capital firms can assist researchers in their research commercialisation journey through investment and advice.
“Established around 25 years ago, Uniseed invests in companies created in universities and research organisations for equity,” Laura explained.
“We invest in commercial opportunities to the benefit of our ten partners. We don't invest in pure research projects, but we do support R&D activities that will lead to a product.”
Talk to Uniseed investors
While Uniseed invests in companies created from research to make returns, the organisation also exists to further entrepreneurial activities within universities.
“Uniseed investors are available to provide early feedback and act as a sounding board for early research projects,” Laura said, adding that openness about challenges often leads to valuable advice, connections and partnerships.
Uniseed investors are available to provide early feedback and act as a sounding board for early research projects.
“Always ask questions. Speak to us and other researchers to learn about different research commercialisation journeys,” Laura said.
CSIRO’s ON programs
The Research Translation Cafe concluded with a presentation from Leah Lucas, Program Manager, CSIRO, who discussed how the ON Accelerate and ON Prime programs provide research startups with the resources, capability and mindset they need to succeed.
Leah said that navigating the journey from research to commercialisation can be unpredictable.
“In CSIRO’s ON Prime program, researchers get to dive deep with potential customers about the problem they are experiencing. We find that once researchers start talking to those who are affected by the problem, their thinking can shift,” Leah said, adding that assumptions can be challenged once you speak to end users.
Once a team has gone through the ON Prime program, Leah said that they are more likely to have identified a viable pathway to commercialisation.
We find that once researchers start talking to those who are affected by the problem, their thinking can shift.
“They’ve talked to dozens of people and discovered a whole lot of things about the market that they just didn’t know before,” she said.
While the ON programs help prepare research teams for commercial success, Leah said that the reality is that it takes a lot more time to see deep innovations realised, either as products or any other kind of service.
What’s next?
- For upcoming training and opportunities, stay tuned for announcements on RES Hub from the UTS Research Translation Team or write to patents@uts.edu.au.