Water innovation in Australia: pipeline to profit?
Water innovation in Australia: pipeline to profit? - Griffith Hack
|7 July 2010|
|Griffith Hack is pleased to announce the release of a report on water technology in Australia, 'Pipeline to Profit?'. |
As a country which has continually had to deal with the scarcity of water, Australia is ideally placed to become a leader in the US$400 billion global water market. But a detailed analysis of our water innovation patents by Griffith Hack in the report 'Water Innovation in Australia: Pipeline to Profit?' has found Australian companies are failing to leverage their valuable intellectual property (IP) into global markets.
The paper finds: “Few applicants are developing a critical mass of patented technology to support their export ambitions. Australian applicants are filing more patents in the water technology area than in most other areas, but the majority of these patents are for domestically oriented inventions.”
“It has been estimated that global water consumption is doubling every 20 years, which is recognised as an unsustainable rate,” notes Griffith Hack Senior Associate, Dr Mary Turonek.
“Australia has built up significant expertise in managing demand for water using technologies – and there is a potential for Australia to export this expertise to the world. But we are not securing our innovative ideas and products for the multi-billion-dollar export market.”