From labs to riches

Researching a great idea is one thing, but ensuring it becomes a commercial reality is another altogether.

Professor Nick Birrell

Professor Nick Birrell, Director of the Asia-Pacific Centre for Science and Wealth Creation, says the Monash Master of Business (Commercialising Science and Technology) aims to fill this gap, ensuring Australia can capitalise on its intellectual strengths and convert research discoveries into economic wealth.

A prerequisite for the course is a science degree. The one-year course takes people trained in scientific research into the world of law, patents and marketing. The course is offered by the Monash Graduate School of Business in collaboration with the Centre for Science and Wealth Creation.

Professor Birrell gave as an example of successful commercialisation of science a location-based phone service package that allows phone companies to offer billing deals that encouraged people to use their mobile phones at home.

Professor Birrell helped former academic Dr Chris Drane develop and commercialise the technology through a company called Seeker Wireless that now has valuable contracts with phone companies around the world and employs about 50 people.

• Monash Master of Business (Commercialising Science and Technology)
• Monash Master of Business (Commercialising Science and Technology) Handbook entry
• Monash Master of Business (Commercialising Science and Technology) Course Finder entry

More information

• Research at Monash
• Monash University Faculty of Science
• Monash Graduate School of Business
• Asia-Pacific Centre for Science and Wealth Creation