FRDC’s approach to commercialisation
In order for knowledge and innovations to drive positive change they must be adopted and used. Commercialisation is one way to achieve this.
Commercialisation is often considered to be the process of bringing new products or services to market. We take a broader view of commercialisation with a focus on providing the strongest benefits (impact) for fishing and aquaculture stakeholders, the Australian community and environment. For this reason, commercialisation is considered in the context of FRDC’s investments to be the process of R&D outputs being used to achieve a commercial outcome.
There is no one-size-fits-all when it comes to commercialisation and adoption, and there are multiple factors that can influence effectiveness. These can be functional (e.g., how well a solution targets the end-user’s problem, or how the solution’s features enhance others that are available); structural (e.g., alterations to supply chains, organisational structures or relationships with end-users, or access to finance to adopt new knowledge or innovations), or behavioural (e.g., attitudes, perceived benefits, alliances or support of end-users). With this in mind, we work with project teams and intended end-users throughout project conceptualisation and delivery to identify early-stage commercialisation paths, which may be via a collaboration, licence, assignment, joint venture or start-up company.
For more information refer to the RDC Knowledge Transfer and Commercialisation Guide.