A new market intelligence tool for Australian researchers

22 March 2012

Researchers in Australian universities and publicly funded research agencies will soon have a new market intelligence tool to help assess the commercial potential of their projects.

Roadmap AnalyticsTM delivers high-quality, up-to-date, market specific information by using specialised software to search a unique database of business and industry reports.

The tool can identify the innovations most likely to succeed by assessing industry needs and market demand for a new product, process or service.

Commercialisation Australia’s Chief Executive Officer, Doron Ben-Meir, said the new tool is being trialled using funding of $360,000 under the first grant from the Pilot Program component of Commercialisation Australia.

“Australia’s gross R&D expenditure is more than $27 billion a year so the potential benefit from this type of project is enormous,” Mr Ben-Meir said.

“Pilot Program grants allow the Australian Government to trial new approaches and to be responsive to changes in the innovation system.

“This pilot aims to enhance the efficiency of the commercialisation process through better connecting a researcher’s inventive solution to specific industry needs.

“Western Australian company Innovation Economics is testing Roadmap AnalyticsTM with CSIRO, UniQuest and UoM Commercial. Together, these three organisations have a major patent portfolio making them ideal partners to test the tool’s value.”

After the pilot project has been assessed, Innovation Economics intends to expand the service in both Australian and international markets.

Roadmap AnalyticsTM will put high-quality information at the fingertips of key decision-makers at the earliest points of the commercialisation process,” said Innovation Economics CEO, Andrew Duff.

Media contact
Donna Valenti, Commercialisation Australia
0438 334 348