Innovative Technology Partnership
HunterNet and Newcastle Innovation reaffirmed their commitment to drawing local industry and the University of Newcastle’s research and technology commercialisation activities closer together to promote growth of new technologies in the Hunter region.
A process of systematically updating HunterNet members on the status of specific R&D projects and new early stage technologies is currently being developed which will allow early access for the local industry to these new technology developments. It is envisaged that technologies developed from the research at the University will be given the opportunity to be developed in our region before access is provided to national and international interests.
This proposed new engagement process will include regular opportunities for members to engage directly, observe and understand specific technologies that may enhance their current operations or present new business opportunities.
Promote local collaboration for commercialisation of new technologies to maintain local competitiveness and promoting growth in the local industry.
Local industries are welcomed to review these technologies and will be given priority to partner-up for the development and investment in a commercialisation strategy.
The local company can potentially invest in the technology as a single investor or form a consortium.
Commercialisation strategy can be in the form of licencing the new technology for integration into the company’s own products range; or investing in the technology to generate a commercial prototype that can later be offered to a Tier 1 manufacturer worldwide.
For collaborative prototyping, the company may offer financial and/or in-kind support to the development work.
There will be some flexibility in the form of partnership and will be reviewed case by case to ensure the best possible outcome for commercialisation and impact to the local economy.
NI will assist in accessing relevant government support program.