Revenues generated by the commercialisation office of Griffith University have skyrocketed by 39% over the 2011 calendar year.
The increase in revenue by Griffith Enterprise continues a four-year growth trend for GE where revenues have increased over 35% per annum.
Major landmark agreements and contracts with SPP Process Technology Systems (STPS) and the Pharmacy Guild of Australia have contributed to the continued strong growth.
Also key to the success of Griffith Enterprise is the diverse capability of the University and the introduction of a third revenue stream called ‘enterprises’ in addition to consultancy and commercial research (CCR) and technology transfer (TT).
Prior to 2008 Griffith relied solely on CCR and TT for commercial revenue with revenue from enterprises is projected to steadily grow into further into the future.
Enterprises are the creation of business units that sit within the University structure and allow the University to package up existing knowledge and expertise into consumable products and services.
Griffith Enterprise Director Nicholas Mathiou says we have a professional team dedicated to getting the best outcomes for the University and University staff as well as our industry, government and community partners.
Mr Mathiou said, “The introduction of enterprises allows the University to smooth out the peaks and troughs which can be associated with the traditional CCR and TT commercial cycle. In years to come enterprises will provide the University with a solid foundation from which to build CCR and TT activities as well as allowing the University to meet a number of other strategic objectives.”
Through enterprises, Griffith staff can combine their knowledge and expertise in a business unit within the University, and utilise and adapt it to offer a suite of products and services directly to the broader community.
By offering this broader approach we tailor our activities to the needs and aspirations of the University and its staff whilst creating discretionary revenue streams for reinvestment into research, innovation, and learning and teaching.