What is research commercialisation

What is research commercialisation?

Commercialisation means taking your research, idea, innovation or technology on a pathway to start a spinout, profit-for-purpose business or social impact, sell a product, provide a service, and generate value in the marketplace or community.

Commercialisation is also known as ‘knowledge transfer’, ‘community engagement’ or ‘application’. These terms are often preferred by researchers considering a social impact pathway.

Depending upon the research you are undertaking, and a few other factors, you may be required to assign your IP to the University.

Assigning your IP means the transfer, by deed or agreement, of the IP rights arising in a particular work, innovation or invention. This is also known as Technology Transfer or commercialisation.

The next steps in this journey depend on how much you want to be involved.

If you only want to be partially involved, you could be a scientific advisor, consultant or contractor. If you decide you would like to be fully involved, you could be anything from chief executive to researcher.

You can discuss this with the Monash Innovation commercialisation team or otherwise with your faculty Business Development team.

Assigning your IP means the transfer, by deed or agreement, of the IP rights arising in a particular work, innovation or invention. This is also known as Technology Transfer or commercialisation.
No researcher commercialises their work alone.
No matter where you are at in your career or where you are on your commercialisation journey, the Monash Innovation team is dedicated to partnering with you to ensure that your research has impact in the world.
The University’s rules governing intellectual property (IP) are set out in Part 5 of its Monash University (Vice Chancellor) Regulations.
This usually depends on where you did the research, who paid for it and who you worked with.
Generally, the University is assigned all IP created by staff in the course of their employment or appointment, but the revenue is shared.

The Monash IP Revenue Sharing Policy outlines the revenue agreement between the researchers and the University.
In legal terms the IP is assigned to the member of staff or affiliate, who discovered the research with the condition that the University has a non-exclusive, royalty-free, perpetual and irrevocable worldwide licence to reproduce, publish, perform, and communicate the research to the public.
The Monash Innovation team is comprised of two groups:
- Commercialisation
- New Ventures
The Commercialisation team includes commercialisation managers and patent attorneys. They work with inventors and creators of Intellectual Property (IP) to:
- Assess the commercial opportunity of an invention or innovation or explore the potential for social impact
- Secure the IP
- Seek partners for licensing the IP
The New Ventures team supports the commercialisation of inventions and different forms of IP at Monash when the IP is destined for a spinout pathway. They work alongside the commercialisation managers to:
- Provide enhanced support to the inventors
- Develop investment strategies
- Support on company formation
- Manage the Monash spinout portfolio
The amount of time to progress an IP creation from invention, or creation stage to market depends on many factors: -
- The technology or innovation
- Stage of development
- Demand for the technology or innovation
- The statutory regulations (if any)
- The time, effort and resources required to get it to market. This process can take a number of months or years.
It is important to make sure that you submit your innovation disclosure well in advance of any conferences or publication releases which may present your research.
A patent “protects any device, substance, method or process that's new, inventive and useful”. You can use a patent to protect devices, substances, methods or processes and in order for an invention to be protected it needs to be novel, useful, inventive and is “a suitable subject matter” also known as “manner of manufacture”.
Confidentiality is crucial in patent protection for the following reasons:
- It preserves novelty
- Provides strategic advantage
- Provides legal protection
- Enables securing of a patent
Assuming your innovation is patentable, disclosing information in the public sphere will likely prevent your invention from being patented.
Even sharing details to other researchers in conversation or through a conference abstract will reduce your chances of obtaining a patent protection.
Watch this video about the risks of sharing your ideas publicly.
Learn more about patents.
The next steps in the commercialisation journey depends on how much you want to be involved. If you only want to be partially involved, you could be a scientific advisor, consultant or contractor. If you decide you would like to be fully involved, you could be anything from chief executive to researcher.
Monash Innovation teams can assess IP, develop strategies, and negotiate different agreements with partners, community partners and investors whether that’s for licensing, launching a spinout or developing a partnership around IP.

A researcher or creator's chosen pathway depends on their level of involvement.
Licence
A licence is a permission that the owner or controller of intellectual property (ie. Monash University) grants to another party, usually under a Licence Agreement. A licence can be exclusive or non-exclusive.
In 2024 Monash launched Click Through Licensing on Monash Shop enabling the non-exclusive licensing of innovations such as media and resources, tools and data, and apps to industry, community and government partners.
The benefits of licensing IP
Societal benefit through impact
Technologies and innovations that are 'commercialised' can raise revenues, create jobs and contribute to the public good by addressing societal challenges.
Commercialising innovations or seeking sustainable pathways for those innovations with a strong social impact focus aligns with Monash’s broader missions and demonstrates the university’s commitment to creating a positive social change in society.
Recognition and profile
Through the positive impact created, successful commercialisation or knowledge transfer means that there is significant uplift in profile and recognition for inventors and innovators. This can also be tied to academic promotion at Monash University.
Financial returns
By generating commercial returns through commercialisation pathways there is the possibility of financial returns. These do not drive the mission of the University or Monash Innovation but do come as a benefit to the Creators, Faculty and University as a result of successful commercialisation.
Spinout
In the context of commercialisation/ Knowledge Transfer at Monash we define spinouts as new companies based on University IP (in which the University may or may not hold equity).
Social ventures are a type of spinout where the profit and purpose mission are strongly aligned.
Find out more in A Guide to Spinouts
Start up
A startup more commonly refers to any early-stage high-growth company whether related to a university or not.
Both startups and spinouts associated with Monash (staff, researcher, student or alumni) are supported by The Generator, Monash University's central startup hub.
Licence revenues paid to you as a creator or inventor may be taxed as income. You should seek advice from a tax accountant for your specific situation regarding the distribution of any revenues.
The Monash IP Revenue Sharing Policy outlines the revenue agreement between the researchers and the University. The IP Policy scope is applicable to all Monash staff (academic and professional) students and affiliates.
For Monash University IP, in respect of a patentable invention or a patent, the creators’ share of revenue under the licence is distributed equally amongst all creators, unless they collectively agree in writing to a different distribution.
However as per 2.3 and 2.3.1
For Monash University IP in respect of an Other Right, which may include rights in a copyright work, registered design, registered plant breeder’s right, registered circuit layout, ‘know how’ or Tangible Research Materials:
2.3.1 With the approval of the Deputy Vice-Chancellor (Enterprise) and after considering advice from the Director, Monash Innovation, an agreement may be entered into between the Creator/s of Monash University IP and the University providing for the Creator/s to receive a share of the Net Revenue,

What is research commercialisation

Licence

The benefits of licensing IP

Societal benefit through impact

Recognition and profile

Financial returns

Spinout

Start up