evaluate and manage projects depend on project characteristics: for example, projects with standard GRDC research agreements are evaluated and managed differently from projects involving unincorporated joint ventures. The portfolio monitoring system includes internal guidelines and/or procedures for: identifying and managing risks associated with individual projects during planning and implementation stages evaluating progress reports for project performance against objectives and milestones—each year, a satisfactory progress report must be submitted to the GRDC before further payments will be made to the research provider conducting formal reviews of targeted investment areas. Commercialisation The GRDC’s primary aim is to drive the discovery, development and delivery of world-class innovation to increase the profitability of Australian grain growers and the sustainability of the Australian grains industry. In many cases, the benefits of GRDC research investments can be most efficiently delivered to growers through commercial channels. Commercialisation strategy The GRDC achieves its objective in delivering research outputs through: analysing returns on investments to ensure that the GRDC is investing in areas that maximise return to growers leveraging capital and expertise from co-investors, to maximise opportunities to bring technology to the marketplace adequately protecting intellectual property, to protect the GRDC’s investments and leverage co-investment from third parties accessing technologies owned by third parties for evaluation and use in Australia developing appropriate paths to market for each new technology managing the GRDC’s commercial investments and partnerships. As part of the overall delivery strategy, the GRDC recognises that the following are necessary for commercialisation: freedom to operate, a sustainable market size, expertise, funds, and distribution channels. Usually the GRDC is only one of a number of organisations investing in the development of new technologies by public and/or private organisations. Investment partnerships are desirable and necessary because they reduce the risk to the GRDC in the funding of new technologies, and because partner organisations can bring benefits in addition to financial
evaluate and manage projects depend on project characteristics: for example, projects with standard GRDC research agreements are evaluated and managed differently from projects involving unincorporated joint ventures. The portfolio monitoring system includes internal guidelines and/or procedures for: identifying and managing risks associated with individual projects during planning and implementation stages evaluating progress reports for project performance against objectives and milestones—each year, a satisfactory progress report must be submitted to the GRDC before further payments will be made to the research provider conducting formal reviews of targeted investment areas. Commercialisation The GRDC’s primary aim is to drive the discovery, development and delivery of world-class innovation to increase the profitability of Australian grain growers and the sustainability of the Australian grains industry. In many cases, the benefits of GRDC research investments can be most efficiently delivered to growers through commercial channels. Commercialisation strategy The GRDC achieves its objective in delivering research outputs through: analysing returns on investments to ensure that the GRDC is investing in areas that maximise return to growers leveraging capital and expertise from co-investors, to maximise opportunities to bring technology to the marketplace adequately protecting intellectual property, to protect the GRDC’s investments and leverage co-investment from third parties accessing technologies owned by third parties for evaluation and use in Australia developing appropriate paths to market for each new technology managing the GRDC’s commercial investments and partnerships. As part of the overall delivery strategy, the GRDC recognises that the following are necessary for commercialisation: freedom to operate, a sustainable market size, expertise, funds, and distribution channels. Usually the GRDC is only one of a number of organisations investing in the development of new technologies by public and/or private organisations. Investment partnerships are desirable and necessary because they reduce the risk to the GRDC in the funding of new technologies, and because partner organisations can bring benefits in addition to financial
grdcannualreport2013-14inword.docx