YOUR INDUSTRY
COMMERCIALISATION OF SCIENCE MAKES WORLD A BETTER PLACE Elaine Fisher David, who was group general manager commercial, prior to being appointed to chief executive in 2018, was recognised for his dedication to finding new ways to commercialise science. In that role, he inspired the culture change required to increase commercialisation of research and championed new business models that provided security and growth for the organisation.
Science can and does change the world for the better
Plant & Food Research chief executive, David Hughes, was named the winner of the inaugural KiwiNet Commercialisation Icon Award
The government‘s current review of science and its funding is a useful time to think about where commercialisation fits within the science model, says chief executive of Plant & Food Research Ltd (PFR), David Hughes. “Science can only make a difference when it is taken outside of the lab and used by others,” David says. “It is my view that if the ‘Future Pathways‘ review process has a strong focus on just one thing it should be on how to maximise the flow of scientific knowledge to the people to make New Zealand and the world a better place to live.” David was named inaugural KiwiNet Commercialisation Icon late last year – an award which commended him for his visionary leadership in advancing the cause of research commercialisation, fostering a social licence to commercialise research and his role in nurturing entrepreneurial spirit and skills in others. “I believe it‘s important that a share of any financial benefits of research are reinvested to allow scientists to keep innovating,” he says. “I‘ve been very privileged to work with some great, forward-thinking scientists as well as those on the business side who can take that science into the world.”
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Royalties have subsequently grown from $13 million in 2009 to $58 million per annum, and now make up 30 percent of PFR‘s annual revenue. The organisation has also established new commercialisation models, such as the Pacific Berries joint venture with Northwest Plant Company in the United States and recently established spin out companies Scentian Bio and 2Before. Commercialisation was a key part of David‘s vision and a technology development business unit was subsequently formed to identify and invest in research with commercialisation potential. “Science can and does change the world for the better,” David says. “We are all enjoying significantly better lifestyles than previous generations thanks to scientific advances. However, to do so, science needs to be in the hands of orchardists, marketers, the supply chain and commercial companies, not in research labs or academic publications.”
We are all enjoying significantly better lifestyles than previous generations thanks to scientific advances The royalties PFR earns enables investment in ongoing and new research, some of which may take decades to reach the commercialisation stage. David says PFR receives around one-third of its income from royalties. “That‘s a rare thing in the biological industry and puts PFR among the top one percent of global research organisations funded this way.
