The potential and limitations of university-business collaborations

Australia's spending on public sector R&D is about the average for the OECD but business spending is well below that of other OECD countries.  Lambert hinted that the UK may be about to greatly increase government funding in this area, which would give the UK a great push that is not currently on the policy agenda in Australia, where Backing Australia's Ability (II) has maintained the existing policy thrust without adding to it.

Barriers to doing better in Australia are very similar to those in the UK - in fact we are dealing with issues that are "spookily similar" in each country:

• Business leaders are ignorant of the benefits from University collaboration,
• There is a generic cultural  "fear of failure",
• There are "cultural clashes" between the mindsets of business and universities, and
• There are many difficult issues in the pricing and management of intellectual property (IP).

The key findings from the Lambert review are as follows:

• We cannot rely on market forces to solve these issues.
• Knowledge transfer is best created by movement of talented people between the sectors.
• Diversity is good - all regional universities (for example) cannot expect to play the role of Oxbridge.
• Competitive funding mechanisms are needed to foster excellence.
• Universities have a "basic public good" role in society.
• Successful university-business collaboration needs "careful and consistent" management.

Richard Lambert's review of the UK scene is required reading for all those involved in seeking to make Australia an innovative economy and to foster the policies needed to maintain Australia's stellar recent economic performance.  I sincerely hope this vital issue does not get lost in the fog of the coming federal election.