Great products fail in weak companies. Mediocre products win in strong companies. Current policy obsesses over Technology Readiness Levels while ignoring a critical truth: innovation success operates on two dimensions, not one.
Australian innovation policy designs bridges between research institutions and end-user companies, bypassing the bridge builders; Australian technology companies with proven capabilities to carry innovation to global markets.
The UK spent £2.5 billion on academic-led commercialisation. Result: 40% industry revenue vs Fraunhofer’s 70%, poor exports, minimal company creation. Commercial problems need commercial solutions.
Germany doesn’t have a monopoly on brilliant scientists. The secret to Fraunhofer’s success lies in something Australian policy makers consistently overlook: commercial discipline, not research relevance.