Noel Chambers, CEO of the National Foundation for Medical Research and Innovation (NFMRI), explains the value of our latest Patent Analytics Hub report in this guest blog.
Knowledge translation and commercialisation needs more than just research and money. Intelligence on identifying potential collaborators, competitors and research clusters can be invaluable information for researchers, investors and industry. One source of intelligence is global patent analytics data: an analysis of millions of records, spanning across continents, compiled over decades.
Interrogating and analysing the metadata within a patent reveals the value of patenting an idea and which markets this idea is most likely to gain traction in, either locally or abroad. This combined with other indicators around commercialisation and the level of internal capability and capacity, provide insights into areas of innovation and commercial interest. Identifying organisations that may be more supportive of translation and commercialisation can improve the potential impact of the ideas of Australian researchers. Ultimately, this helps push these researchers towards establishing a competitive advantage to help attract industry and investors.
For the NFMRI, patent analytics helps construct the framework around research to help it advance both efficiently and effectively. A new interactive analytics report, Recording Brainwaves, from IP Australia’s Patent Analytics Hub, is an example of how analytics can help with decision making. As part of the NFMRI’s social investment in biomedical research, this report was compiled for researchers from the University of Melbourne to identify, evaluate and support the development of technology relating to detecting and recording neural signals – or brainwaves.
Based on available patent data, the Patent Analytics Hub considers brainwaves related technology as a sector with high growth potential indicated by the strong, yet small, presence of Australian innovators.
I encourage researchers who are pursuing commercialisation options to seek out insights from the report.
Disclaimer: Guest blog content is provided to encourage positive conversation around a broad range of intellectual property topics. The views expressed do not necessarily reflect the views and policies of IP Australia. We accept no responsibility for the accuracy or completeness of the views or information posted and we disclaim all liability from those views that may be occasioned directly or indirectly through the use of, or reliance, on those views and information.