Maximising the commercial benefits of research

It is reasonable to expect that the returns from research contribute economically to generate Australia's national wealth, given that Australian Government-funded research, such as through the National Health and Medical Research Council (NHMRC), is supported by public taxes. Australia's national wealth is enhanced through translating research findings into new commercial products, companies or industries. This concept was at the centre of the Wills Review more than 15 years ago, and represents a virtuous cycle of investing in research to create knowledge and translating that knowledge to reap patient and economic benefits that lead to further investment.