Australia’s research excellence is renowned, consistently ranking among the top in global innovation metrics (7th out of 36 to be exact). With a high position in the OECD rankings for research and a notable edge over countries like France and the UK, Australia’s innovation scene is robust. Yet, a significant challenge persists; translating research into economic benefits through effective industry-research collaboration. Australia’s low ranking for translational research underscores a critical gap that impedes the full economic potential of our research capabilities.
Australia’s innovation prowess is evident, but there’s a crucial missing link. Despite high research rankings and innovation rates, the country struggles with translating research into commercial success. Ranking 32nd out of 36 OECD countries for translational research, Australia faces hurdles like fragmented subject matter expertise, limited commercialisation support, and insufficient funding for private, unlisted companies.
In this landscape, organisations like the Centre for Entrepreneurial Research and Innovation (CERI) are making a significant impact. As a social enterprise, CERI is dedicated to nurturing Western Australia’s entrepreneurial talent and bridging the gap between research and commercial success. Through its well-structured programs, CERI offers a comprehensive support system that includes education, mentorship, workplace residency, and industry exposure. This holistic approach is crucial for guiding startups from ideation to commercialisation and investment readiness.
CERI’s impact is evidenced by the success of its alumni and current residents.
Leanne Kite, founder of Reliis, an emerging biotech WA company, highlights the transformative effect of CERI’s support:
“The guidance and resources provided by CERI have been instrumental in our startup journey. We first connected with CERI after winning the 2024 Innovator of the Year Business News 'Great for the State' award for our research and development in Delirium treatment. This opportunity provided us with the ability to engage with CERI’s educational and mentorship programs. Subsequently, since joining as a resident startup, we have benefited from MBA student collaborations on research projects that directly support our development and participated in demo days that have expanded our network and attracted investment. Over the past six months, CERI has truly been a cornerstone of our success.”
Reliis is a platform technology company specialising in reformulating and repurposing underutilised medications to address high-value use cases. Their lead candidate focuses on developing a treatment for delirium—a sudden and severe episode of cognitive decline associated with the onset of dementia and the acceleration of cognitive decline in individuals with existing dementia.
CERI alumni includes Lixa, a biotech company solving antimicrobial resistance with cost effective ingredients that restore the efficacy of common antibiotics, herbicides and biocides in previously untreatable infections.
Philanthropist Charlie Bass, the founder of CERI, has a vision to diversify Western Australia’s economy beyond its resource dependence. By fostering innovation and reducing the boom-bust cycle associated with resource sectors, Bass’s initiative, coupled with support from the Malka Foundation, aims to create a more resilient economic landscape.
CERI’s recent initiatives, such as facilitating interactions between resident startups and prominent figures like joint Australians of the Year Professors Georgina Long AO and Richard Scolyer AO, demonstrate its commitment to providing valuable opportunities for its ecosystem. These events not only offer industry insights but also enhance the visibility of startups on a broader stage.
Australia’s innovation ecosystem is vibrant and full of potential, and CERI’s success underscores the profound impact that well-structured support systems can have on the entrepreneurial landscape. As the organisation continues to drive innovation and support high-value startups, there is a growing need for more cross-sector support. By supporting initiatives like CERI, we can bridge the gap between research and commercial success, ensuring that our research excellence translates into tangible economic benefits.
CERI’s Semester 2 programs – Concept to Creation and Investment Readiness begin this week. There is still time to register – for more information visit www.ceri.org.au/programs
For further information on CERI or any of the resident startups mentioned please contact Liz Blaxell: liz@ceri.org.au
