Innovyz forges strategic relationship with WSU to help commercialise Australian academic research
Australia: 4 March 2016: Innovation commercialisation specialist, Innovyz, has announced a strategic new affiliation with the Western Sydney University (WSU) to help commercialise the impactful research conducted at the institute.
With 1,500 highly qualified researchers currently working across a range of fields at WSU, the collaboration with Innovyz provides a unique opportunity for the institute’s research to achieve its full potential, helping to drive social and economic change, creating jobs and supporting economic growth for national benefit.
Innovyz CEO Executive Chairman, Philip Vafiadis, said: “To date Innovyz has helped to commercialise 51 new businesses across multiple industry categories, from health and wellness to advanced manufacturing – and all these businesses do something that matters to both society and our economy.
“We’re taking Australian ideas, research and inventions, and with our team of highly successful business minds and investors, are applying a commercialisation framework that helps these ideas become viable organisations. For that reason, building relationships with such innovative institutes, such as WSU, is integral in our mission to increase the proportion of commercial value held within Australia from Australian generated research.”
Innovyz has announced a new target of creating a minimum of 30 new companies a year using their innovation model, and WSU research projects will be included in their thrice yearly intake that each generates 10 new companies.
WSU researchers have been working on projects within the fields of med-tech, engineering, renewable materials and agri-business, some of which will be put forward for the Innovyz program under the new affiliation.
WSU Pro-Vice Chancellor (Research and Innovation), Professor Deborah Sweeney said: “At Western Sydney University, we are determined to achieve real impact through our research. Spinning-out technologies independently bring particular challenges, collaborating with Innovyz opens up this really advantageous commercialisation model to our researchers.
“Working with Innovyz, we have access to distinctive commercial capabilities to give the new businesses we will create the best chance of success. The opportunity is multi-faceted, with WSU feeding new technologies into the Innovyz incubator, and in return Innovyz is assisting academics and students to understand the potential of their research, identify market need, develop industry orientated skills and facilitate links with stakeholders across the industry.”
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Innovyz is dedicated to accelerating rapid adoption of ideas that solve or mitigate problems important to the lives of many people. They do this by creating, curating and delivering the most effective collaborative processes to turn great ideas into great companies, and through these companies deliver the benefit of these ideas to many.
Innovyz fosters the development of ideas by bringing structure to their advancement, enhancement and application. Innovyz seeks out invention in all its forms, because Innovyz is a consolidator and accelerator of ideas, the fuel of invention.
The Innovyz process maintains a clear focus on the required skills and activities required so that everyone with those skills – inventors, innovators, mentors and investors alike – understand that they have a place and are welcome in the Innovyz project community.