The Australian government has launched an online library of publicly-funded pieces of intellectual property to connect start-ups, businesses and researchers with inventions.
The Source IP marketplace offers business a platform to access research and inventions created by local universities and government-owned organisations.
It allows a user to browse and search different categories of IP, read through licensing terms and contact the owner to discuss potential uses of the intellectual property.
It contains IP from 40 Australian universities as well as organisations like the CSIRO and ANSTO. From December, medical research institutes will start adding their IP to the portal as well.
More than 6200 IP documents were listed on the site at the time of writing.
“Source IP presents us with opportunities to bridge the gap between research and innovation by strengthening collaboration between publicly funded researchers and industry to drive innovation,” assistant minister for innovation Wyatt Roy said yesterday.
The move is part of the government's new focus on putting innovation at the centre of Australia's economic agenda.
Prime Minister Malcolm Turnbull is expected to make a statement on the government's innovation policy in the next few weeks.
It will outline the government's approach to attracting and retaining talent as well as support for start-ups.