Australia has committed $1.6 billion to help research projects become commercialised. Here’s what the money will do

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The federal government is investing $2.2 billion for university research commercialisation which would place “university innovation and industry collaboration front and centre of Australia’s economic recovery.”

Part of this funding includes $1.6 billion over ten years for Australia’s Economic Accelerator – a new competitive funding program to help university projects bridge the so-called “valley of death” – the place between the lab bench or research environment and the marketplace, where many good ideas essentially die.

The government’s funding boost is a step in the right direction. Here’s why it’s needed and how it will work.