All of the areas of operation of the Centre were focused on the creation of wealth from science and many of our education and research activities have a very practical and direct link to wealth creation.
The commercialisation projects carried out by students in the MBus (Science and Technology) course are aimed at creating wealth for inventors, investors, organisations, and society as a whole. One example is the BEL Monolith technology invented by Dr Gareth Forde and Dr Michael Danquah in the Monash Bio Engineering Laboratory. This technology allows the rapid separation of biomolecules, especially plasmid DNA, and offers large savings in the cost and large improvements in the quality of plasmid DNA purification. Plasmid DNA-based vaccines are becoming more and more important, and the BEL Monolith technology will play a significant role in bringing them to market more quickly and less expensively.
In 2008, MBus (S&T) students Lily Chisholm and Shiau Tan worked with the inventors and the assignee of the intellectual property, Kintan Pty Ltd http://www.kintan.com, to identify target markets for the technology, carried out market research, developed an initial plan for product development, and generated commercialisation strategies to attract potential investors and technological collaborators. Lily and Shiau shared the 2008 award for best project, and each received a prize of $10,000.
Commercialisation of the BEL Monolith technology was continued in 2009 by MBus (S&T) students Joanne Lew and Hai Le. Their work included additional focus on finding potential early adopters of the technology, developing a detailed business plan, and creating a web site http://sites.google.com/site/belmonolithtech/home/. The BEL monolith technology is now commercially available and is expected to be widely adopted.