Research excellence, investment expertise, and commercial translation require fundamentally different professional competencies. Expecting research institutions to develop commercial capabilities is like expecting commercial companies to conduct academic peer review. Both skills are essential. Neither can substitute for the other.
The UK invested £2.5 billion in Catapult centres with academic leadership. While Fraunhofer achieves 70% industry revenue; Catapults managed 40%. Australia risks repeating this expensive mistake by funding research-led commercialisation instead of commercial-led translation.
Innovation policy roundtables include academics, researchers, and venture capitalists. Missing are commercial leaders with decades competing in global technology markets, building research relationships, and scaling Australian innovations internationally. No wonder policy reflects institutional perspectives rather than commercial reality.
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.
Project funding lasts two to three years. Commercial translation requires sustained company development over decades. 3ME Technology needed six years to breakthrough. TechnologyOne invested 37 years building enterprise software leadership. Companies carry innovation across the valley of death, not projects.