About the prize
The University of Melbourne is home to some of the best thinkers in the world. The Research, Innovation and Commercialisation team (also called RIC) is there to help transform those ideas into reality. Research, Innovation and Commercialisation experts help translate research into beneficial outcomes for society by supporting researchers along the research, development and partnership continuum, including:
- Help seeking grants and other sources of funding
- Help engaging with industry as partners in research, grants and delivering impact
- Help with ethics approval and research integrity
- Supporting contracts and consultancy
- Assistance identifying and protecting inventions
- Licensing and patenting knowledge
- Supporting partnerships with industry, other research entities, the community, government and not-for-profits
- Assistance with spin-outs and start-ups
The 2019 Research, Innovation and Commercialisation Prize will comprise one prize of $2,000. The prize is awarded to a student project team participating in the 2019 Endeavour Engineering & IT Exhibition. The prize is open to all project teams.
The prize is looking for team who offer genuinely innovative approaches to solving challenging problems and have investigated the potential commercial applications of their final-year project. The application process will help teams develop skills and techniques to complement academic expertise. This broader, complementary set of skills and knowledge better prepare Endeavour teams for their professional careers.
Your application and presentation will be judged by commercialisation experts. Short-listed project teams will have the opportunity to present their application in a live ‘pitch’ to the judging panel at their booths on Endeavour Day.
To apply, submit the completed application form in PDF format via email to email@example.com by no later than 5 pm Monday 9 September 2019.
|Date||Application and judging procedure|
|By 5:00 pm Monday 9 September|
|Monday 23 September||Judging panel to shortlist projects. Shortlisted projects notified to assist with preparation for the exhibition.|
|Thursday 24 October||Pitch. Short-listed project teams ‘pitch’ their project in a short presentation to the judging panel held at their booths during Endeavour Day.|
|Thursday 24 October||Winner announced at the Endeavour Awards Night by Executive Director RIC, Ken Jefferd, former CEO/Managing Director of HRL Technology Group Pty Ltd.|
The judging panel is looking for projects with commercial potential and for evidence that the project team has considered this commercial potential. Thus, the prize will not necessarily be awarded to the project with the most sophisticated or innovative use of technology. However, the use of creative engineering design to drive commercial potential is important. The application should address:
- How the project utilises engineering research or design to underpin its technical innovation.
- The potential for commercial application(s) of the project outcomes to benefit society. Consideration should be given to:
- The problem that the project has the potential to address. The size of the problem in terms of its current costs to industry or to society.
- The existing processes/technologies used that would be improved/replaced by the successful commercial implementation of the project.
- An estimate of the potential commercial impact. This may include an estimate of the productivity gains, and/or total cost savings, and/or additional revenue generated by commercial users of your innovation.
- An estimate of the total market size (the number and dollar value of users).
- How users/customers will incorporate your innovation into their existing practices/processes/businesses to realise improved profits.
- The viability of the next steps in the development of the project. This includes how the project will be developed from its current stage into something that can start to deliver its benefits to
- Any implementation concerns/risks such as cost, ethical considerations, complexity, competition, or regulation and how these will be overcome.
The application quality
The application should be sufficient to readily explain to a non-technical audience the key innovations of the project and the responses to the elements detailed in 1 & 2 above. Use of graphics, images and links to videos or other online material are all encouraged to make it easier for the team to communicate effectively but are not essential. Clarity of message is the primary consideration.
The presentation by short-listed projects
Teams do not need to prepare a special presentation but must be ready and able to use the materials at their display to explain their project, the innovative nature of the technology solution developed and the commercialisation potential they have evaluated for that solution.
Teams will have ten (10) minutes with the judges including time for Q and A. The structure of the explanation and which team members are involved is up to the teams to decide. It is not necessary that every team member present but the team should have the most qualified/relevant member answer specific questions.
All inquiries can be directed to the Endeavour Management Team at firstname.lastname@example.org.
The judging panel will comprise:
- Leonie Walsh: Director & Founder, Productive Management Solutions, Former Victorian Government Lead Scientist
- Jia-Yee Lee: Enterprise Fellow, Melbourne School of Engineering, University of Melbourne
- Brian Pang: Business Development and Research Commercialisation, University of Melbourne