Innovation week at ANU

Greeting from the last Innovation Week at ANU event for 2010 at "spacedock" (aka John Curtin School of Medical Research), Australian National University, Canberra.

Dr. Thomas Barlow, research strategist, former political advisor and columnist for the Financial Times, and author of "The Australian Miracle". He talked about "Innovation in Australia". Thomas grove a humorous introduction describing the ANU as an oasis of civilisation in
the politics of Canberra. He then suggested Australian might be the only developed nation with an extended period of GDP growth in recent years.

He then explored the myth of the "lucky country" pointing out that Australian has high levels of working hours compared to other developed
nations and that even resources extraction requires technological skills and hard work. Australia's economic growth has been accompanied by an "explosion" in investment in R&D (1.7% of GDP?), greater than the UK.
Australian university have doubled their investment in R&D, joining the "category A" nations, with small populations.

Thomas claimed there have been a revolution in Australia's R&D capability, but few have noticed. However, his comparisons are with the USA and UK, which are now not leading technological countries. He argues that this is a perception problem and attributes this to the structure
of the Australian economy. Previously a major area for R&D was in telecommunications. This investment does not appears to have paid off,
in comparison with Finland: we do not have a Nokia. Australia has had a boom in the services sector. However, this is not visible to the general
public.

Thomas pointed to Westfield has a highly innovative company developing shopping malls. Australian IT companies adapt existing technologies developed elsewhere which help other industries. The Australian coal industry invests heavily in mathematics.

Australian is at the bottom of the "category A" pack of countries. As a result very high levels of investment are needed to create outstanding
universities, Thomas suggests. Instead Australia spreads its investments across a large number of institutions across the country. Also Australia
invests in more researchers, rather than giving each researcher more.

There is a bifurcation happening between research and teaching at university. Those doing teaching are finding it harder to access reach
grants, even as those increase.

All this was good news: we are doing better than we thought, but Thomas argues that this is now a problem. The "Luck Country" adapted technology
from the world. The mood changed to say that Australia had to build its own unique technology. Australia is now providing resources and ingenuity to allow China and India to industrialise. Thomas argues that it is dangerous for Australia to try and emulate China or Finland.

This was a passionate presentation, but at the end I was not clear as to what it was we should be doing.

I asked what we, as a nation should do (on the assumption that minister's offices will be reading this blog posting). The response was that Australia should take the best ideas from round the world and build on them. Universities should aim for high visibility, high impact work.

He said that numerous specialised schemes to help individual industries should be scrapped.

Dr Alex Zelinsky Information Sciences at CSIRO then argued the problem was not government programs, but a cultural issue. Alex has a slide with a photo of a person holding a light bulb. Light bulbs seem to be a theme of innovation events. He injected a does of practicality by pointing out that innovations have to be desirable and viable in the marketplace (or for society generally).

Alex showed examples of unusual inventions which were very original, but did not really meet an unmet need. He argued that innovation is about people building teams, rather than technological gadgetry. Judgement is needed to asses how mature a technology is and when t is time to protect the intellectual property.

Alex pointed out that commercialising research requires 10 to 20 times as much money as the prototype development cost. "Smart money" investors provide relationships as well as early stage funding.

Alex then went through some examples, starting with "Seeing Machines", which listed n the London Stock Exchange, five years ago. It had a way to monitor the face of a driver of a car for safety reasons, funding by Volvo. Seeing machines started without a strategy or plan, simply with
the aim for a spin-off company. Instead of a mass market product costing $200 for the automotive market, the company instead produced technology for medical diagnosis of glaucoma. Alex pointed out that the profit margin for medical instruments was far larger than for automotive equipment. Medical researchers were encourages to publish papers about the product, to confirm its strong research underpinnings.

A higher profile success is CSIRO's patents for the wireless LAN. The CSIRO IP was turned into a chip set used by CISCO. So far CSIRO has
received $US200M with much more to come. The work has a strategy. Alex suggested that this was a good model for new developments, in areas of
optical communications, data storage and clean technology.

The last example Alex gave was the application of optical analysis for driver fatigue, but not for passenger cars, but in very large and expensive mining vehicles. Apart from higher margins, a benefit of this market is that trucks are much roomier than cars, and off the shelf equipment can be used, rather than miniaturised custom equipment. This provided an example of an adaptation for an existence Australian industry: mining.

This was the third and last of the innovation week events. While better than the first of the week, it was not as good as the usual weekly ACT
Innovation presentation. The lesson I have taken away from the week is that innovation is about doing things, not talking about them.

Understanding the Market for Innovation

Greetings from ACT Innovation program, at "spacedock" (aka John Curtin School of Medical Research). John Hemphill, CEO of Axxos is talking about "Harnessing the cycle of innovation - Understanding your market". He describes the ACT Innovation program as "viral marketing". John is provided an entertaining presentation with useful graphics, which is being videoed and will be available on-line in the next few days.

Leadership 2.0 Needed for Canberra Innovation

Jon Stanhope MLA, Chief Minister of the ACT, opened Innovation Week at ANU last night at "spacedock" (aka John Curtin School of Medical Research), Australian National University, Canberra. The Chief Minister gave a disappointing speech on the role of innovation in the Canberra economy. This was followed by a lackluster debate on "Investing in innovation? This house believes that Australia spends too much money on university research". This contrasted with the previous excellent events in the ACT Innovation program, run by students of ANU and University of Canberra. The Chief Minister and the professors need to learn from the students how to communicate in the 21st century.

The debate was between Professor Lawrence Cram, Deputy Vice-Chancellor ANU; Professor Steve Dowrick, Professor of Economics, ANU and member of the 2008 National Innovation Review; Narelle Kennedy, CEO of The Australian Business Foundation and member of the 2008 National Innovation Review; and Dr Geoff Garrett, former Chief Executive of the CSIRO.

Narelle Kennedy was the evening's best performer, with an engaging and passionate argument in favour of university research. The rest of the evening was a very dull affair.

The Chief Minister set the tone for the evening by giving a generic opening speech which indicated he was not interested in the topic and then confirmed this by leaving immediately afterwards. The following speakers were not helped by using an old fashioned debating format. It was ironic that the hi-tech Finkel Lecture Theatre in the hi-tech John Curtin School of Medical Research was being used for a very low tech debate.

Some quotable quotes I picked out of the debate:

"Innovation is ideas successfully applied", "Innovation is a contact sport, like rugby".
"Knowledge is a cumulative process".
"ERA is inwardly focused"

Apart from that, I don't really know what the speakers were talking about. They got up, talked a lot, and then sat down again. This "Lecture 1.0" format was used at universities, before we realised it was not a useful way to communicate.

The ACT Chief Minister and our professors need to be re-skilled in 21st century communication, if they are to provide leadership on innovation (or any other topic). We now teach undergraduate and postgraduate students how to do this, so they can be leaders of the future. The leaders of the present need to sit in on some classes, if they wish to be part of Canberra's future.

The next Australian Innovation Festival Seminar is "Harnessing the cycle of innovation - Understanding your market"
by John Hemphill, CEO, Axxos
Wednesday 28 April, 6-8pm
Finkel Lecture Theatre, The John Curtin School of Medical Research, ANU

Australian Innovation Festival at ANU

The Australian Innovation Festival is next week:
Australian Innovation ACT Festival Launch:
Speaker: Jon Stanhope, Chief Minister of the ACT
Tuesday 27 April, 5.30pm for 6pm
Finkel Lecture Theatre, The John Curtin School of Medical Research, ANU

Australian Innovation Festival Debate:"Investing in innovation? This house believes that Australia spends too much money on university research"

Speakers include: Professor Lawrence Cram, Deputy Vice-Chancellor ANU; Professor Steve Dowrick, Professor of Economics, ANU and member of the 2008 National Innovation Review; Narelle Kennedy, CEO of The Australian Business Foundation and member of the 2008 National Innovation Review; and Dr Geoff Garrett, former Chief Executive of the CSIRO.
Tuesday 27 April, 6.15-7.30pm
Finkel Lecture Theatre, The John Curtin School of Medical Research, ANU

Australian Innovation Festival Seminar
"Harnessing the cycle of innovation - Understanding your market"
John Hemphill, CEO of Axxos
Wednesday 28 April, 6-8pm
Finkel Lecture Theatre, The John Curtin School of Medical Research, ANU

Australian Innovation Festival Seminar
Thursday 29 April, 5.30pm for 6pm
Finkel Lecture Theatre, The John Curtin School of Medical Research, ANU
Seminar: Australia and innovation: Miracle country or basket case?
Dr Thomas Barlow, former science advisor to the Minister of Education and Science and author of the 2009 Barlow Report.

Seminar: Making Innovation Happen
Dr Alex Zelinsky, Group Executive Information Sciences, CSIRO

Innovation in the Cafe

Greetings from table 24 at the Vanilla Bean Cafe for InnovationACT in 2010. at "spacedock" (aka John Curtin School of Medical Research), Australian National University in Canberra. Tonight's Seminar is a Panel Discussion hosted by Lighthouse Innovation on "The Innovation Mindset" with: Glenn Dickins and others.

Normally the innovation sessions start with drinks in the foyer of the medical research building and then we move into the lecture theatre for the formal presentation. This evening I was surprised when everyone went the other direction and instead filed into the cafe, on the other side of the foyer. This is my second favourite cafe on the ANU campus, after the Purple Pickle. The panel session is being held cafe style, with the MC at the podium in front of the drinks cabinet and the panelists on a sofa. The audience is at tables.

It may seem unusual to hold a university innovation session in a cafe. However, for many years I have done some of my most productive work in cafe, the informal atmosphere combines with a concentration of creative people. As an example, to day at lunchtime I was called over to a table the the Purple Pickle and introduced to someone who has $1.4M in government money for a project in an area I am working on. In addition "cabaret" style is a recognised type of education room design.

The setup this evening could do with some improvements. There are microphones in place but these are only used for the video recording of the event, not for sound reinforcement in the room. The presenters are in front of the drinks cabinet which has a noisy refrigeration system. It would work better to place the speakers at the opposite end of the room, which is quieter.

The audience are as interesting mix of people as the panelists: there are students from a wide range of areas from both the ANU and University of Canberra, as well as staff. One of my students came up to me and I was worried they would ask about the mark for their last assignment. Instead they asked about how the might implement the web interface for the innovation project they are developing for Innovation ACT. Another ex-student is working on e-government with NICTA.

After typing all that I have tuned in to what the panel are actually saying: "Never overvalue the time you sent on an idea: if it is not a good idea it is worth nothing." Glenn Dickins has just commented on the difference between two technology development: the super-capacitor and the iPad. He argued that the super-capacitor is revolutionary but will not be visible to the end user, whereas the iPad is an evolutionary development of existing technology but will appear revolutionary to the user. An interesting question from the audience was "Where are the women in innovation? All the panel and most of the room are men.". The moderator is female and commented that most of the innovators they see are male. However, they commented that women tended to produce social innovations, rather than strictly technical ones. This is an insightful comment, with many real ideas being about how to do something together, not a gadget to do it with.

I asked the panel if the Californian silicon valley culture translates around the world. I have been to Google Sydney's office and found that it was set up very much the same at Microsoft Cambridge Research Labs (UK). The panel commented that different cultures will have different needs (Microsoft Zurich Labs will be different as it is in a Swiss culture). The moderator then asked about the "Innovation Room" and the panel all nodded, but no one explained what this was all about. But I did find the book "Secrets from the Innovation Room" (Kay Allison, 2004).

The moderator suggested that to test if you really understand your innovative idea, try to explain it to your grandmother.

Innovation Training

At the "Innovation ACT" launch Thursday night there was mention of a "certificate in commercialisation". This is the ANU Graduate Certificate in Commercialisation (CTS), run by the College of Business and Economics:

The objective of the Graduate Certificate in Commercialisation is to equip students with the skills, knowledge and experience necessary to bring research-based ideas, inventions and innovations to market, and to contribute to Australia’s economic and social and environmental wellbeing through commercial benefits generate from enhanced delivery of innovation research based products and services. ...

Being a certificate, it requires the equivalent of one semester full time study, made up of semester length (13 week) courses (13 weeks) and intensive (7-10 week) units.

The course consists of:

• Integrating Business Project A – Entrepreneurship & New Venture Planning (MGMT7184 )
  
• Financial Reporting and Analysis (BUSN8181)
  
• Organisational Behaviour (MGMT7003)
  
• Commercialisation Law (ENGN6611)

The most interesting part of this is "Entrepreneurship and New Venture Planning":

Entrepreneurship and New Venture Planning introduces students to the process of identifying new business opportunities, researching and writing a business plan around those opportunities. The students also make an oral presentation of their business plan to an examiners panel – representing hypothetical investors. The students also prepare a personal learning report which reviews how the course has added to their understanding of general management issues. The course gives students practice in managing a group project over an extended timeframe and requires them to draw on all of the core disciplines of management – new concept development, marketing, financing, organisational development and strategy. In this way, the course integrates the learning delivered in specialised courses on these and other management disciplines. The course commences with a series of classroom lectures on principals and processes in opportunity identification, entrepreneurship and business planning. The lectures are reinforced with progress workshops where the students review the work they are doing on their plans with a faculty mentor.

This fits well with the Innovation ACT program, where teams progress a real projects trough stages.

There is some government funding government funding for the program which students can apply for ( Commonwealth Supported Places CSP).

There are a few limitations with the certificate. It appears to be designed for, and only available to, PhD and Masters by Research students at ANU. So postgraduate students doing coursework, including those doing my Green IT Strategies course could not do the certificate. Also there is no distance education e-learning option offered, so students are limited to being at the ANU campus in Canberra.

World's Coolest Cities for Innovation

The "Innovation ACT" program for 2010 was launched last night at "spacedock" (aka John Curtin School of Medical Research), Australian National University, Canberra. The keynote speaker was Glenn Dickins, Senior Staff Research Engineer at Dolby and entrepreneur, who has an ANU PHD in Engineering. Glenn talked about how to be an entrepreneur, including the pleasures of being able to innovate in the coolest cities in the world, nominating Helsinki at the top.

Innovation ACT allows ANU and University of Canberra students to learn to innovate, taking their ideas from research to the market. The program does not cover for-profit ideas but also those for the public good.

Professor Shannon from UoC talked at the launch. Innovation ACT has distributed more than $100,000 so far. Professor Mick Cardew-Hall spoke next, commenting that the program is run by students for students.

One problem I have with the Innovation ACT program is that it is not part of formal ANU or UoC courses. However, there was mention at the launch of a "certificate in commercialisation", where for ANU and UoC students can suspend studies for six months. Unfortunately no further details were given and it was not clear tio me why the students had to suspend their studies for this, rather than have it opart of their program.

The 2010 logo for Innovation ACT is an old fashioned light bulb with a wind turbine instead of a filament. I have no idea what this is intended to represent. You can follow Innovation ACT on Twitter.

Teaching Researchers to be Entrepreneurs

InnovationACT provides free training in entrepreneurship and $70,000 of awards for ANU and University of Canberra staff and students. This year's program is being launched 6pm, 8 April 2010 at Finkel Lecture Theatre, John Curtin School of Medical Research (please RSVP). Last year I gave the participants a talk on "Innovating to lower costs and carbon emissions with ICT".

There are slides and videos of last year's presentations available online. I have suggested this be turned into a formal assessable course, so student get credit for taking part.

University engagement with industry

Greetings from the Australian National University were the College of Engineering & Computer Science is having an Industry Engagement Day. The idea is to working out how to apply the research done by universities and places like NICTA, to industry. I have some background in this having been involved in formal discipline bodies to change IT research and informa discussions leading to the the creation of NICTA. More recenelty I have helped teaching innovation a ANU.

The first speaker was Professor Mandy Thomas, PVC Research. She pointed out that the Australian Government released an innovation policy "Powering Ideas: an innovation agenda for the 21st century" (12 May 2009) and rearranged portfolios to place research with industry. ANU is looking at ways to link with industry. Support is provided to researchers to seek out industry partners for ARC Linkage Grants. Professor Thomas invited suggestions on how to improve this program.

My suggestion was be to provide training for researches on how to innovate. ANU's engineering students run an excellent Innvoation ACT program each year, to teach how to take an idea to business. This is now an ACT wide program involving other universities and all disciplines. The presentations are recorded and I suggested it would not be difficult to turn this into a formal course.As an e-learning course this could be avialible to all ANU postgraduate students, and students at partner unviersites worldwide.

From the Innovation Report:

... Australia’s recent innovation performance has been uneven, and we have failed to keep pace with the rest of the world. In the last eight years, Australia has slipped from fifth to eighteenth in the World Economic Forum’s Global Competitiveness Index. Our multi-factor productivity grew 1.4 per cent a year on average between 1982–83 and 1995–96. Growth has averaged only 0.9 per cent a year since then, which is no better than we achieved in the 1960s. Since 2003–04, our productivity has actually declined.

... The Australian Government has adopted seven National Innovation Priorities to focus the production, diffusion and application of new knowledge. All of these priorities are equally important. They address the country’s long-term weakness in business innovation, and in collaboration between researchers and industry. The National Innovation Priorities complement Australia’s National Research Priorities, which help focus public-sector research.

Priority 1: Public research funding supports high-quality research that addresses national challenges and opens up new opportunities.

Priority 2: Australia has a strong base of skilled researchers to support the national research effort in both the public and private sectors.

Priority 3: The innovation system fosters industries of the future, securing value from the commercialisation of Australian research and development.

Priority 4: More effective dissemination of new technologies, processes, and ideas increases innovation across the economy, with a particular focus on small and medium-sized enterprises.

Priority 5: The innovation system encourages a culture of collaboration within the research sector and between researchers and industry.

Priority 6: Australian researchers and businesses are involved in more international collaborations on research and development.

Priority 7: The public and community sectors work with others in the innovation system to improve policy development and service delivery.

... the Australian Government will ...

Capacity

• Progressively increase the number of research groups performing at world-class levels, as measured by international performance benchmarks.

• Use mission-based funding compacts and other funding mechanisms to promote collaboration by encouraging universities to organise themselves into research hubs and spokes, and to pursue opportunities to undertake industry-driven research more vigorously.

• Progressively address the gap in funding for indirect research costs — starting by augmenting the Research Infrastructure Block Grants Scheme with a new Sustainable Research Excellence in Universities Initiative.

• Help smaller and regional universities develop their research capacity by teaming up with other institutions — supported by a new Collaborative Research Networks Scheme.

• Increase the capacity of public research organisations, especially to tackle complex problems, participate in domestic and international collaborations, and undertake multidisciplinary research.

• Continue to invest in research infrastructure to support collaboration and give Australian researchers access to the latest technology, guided by the Strategic Roadmap for Australian Research Infrastructure (2008) — building on $580 million for university research and teaching infrastructure in the first round of the Education Investment Fund, $321 million for research infrastructure in the second round, and $901 million for projects identified through the roadmap and funded under the Super Science Initiative; the third round of the Education Investment Fund will be conducted in 2009–10 to maintain the momentum.

Skills

• Develop a research workforce strategy to address expected shortfalls in the supply of research-qualified people.

• Increase the stipend for Australian Postgraduate Awards — with an increase of more than 10 per cent announced in the 2009–10 Budget, lifting the stipend to $22,500 in 2010.

• Significantly increase the number of students completing higher degrees by research over the next decade — building on the Government’s ambition to lift the proportion of 25–34-year olds with a bachelor’s degree and its new incentives to get undergraduates studying maths and science (both of which will enlarge the pool of students qualified to undertake research degrees), as well as its action to double the number of Australian Postgraduate Awards in the 2008–09 Budget.

• Create viable career paths for Australian researchers — building on the Government’s measures to support research trainees (more Australian Postgraduate Awards with higher stipends), early-career researchers (Super Science Fellowships), mid career researchers (Future Fellowships), and senior researchers (Australian Laureate Fellowships).

Accountability

• Introduce mission-based funding compacts that allow universities to determine their own research and collaboration agendas in line with national priorities.

• Implement Excellence in Research for Australia to measure the quality of university research and guide the allocation of resources.

• Require universities to provide more meaningful data on research costs through activity-based reporting, and to meet specific performance targets to be developed in consultation with the sector.

Business innovation

... the Australian Government will ...

• Aim to increase the proportion of businesses engaging in innovation by 25 per cent over the next decade — building on initiatives including Enterprise Connect, Clean Business Australia, and the new $4.5 billion Clean Energy Initiative.

• Aim to increase the number of businesses investing in R&D over time — fuelled by the introduction of a new R&D Tax Credit, which will double the tax incentive for small-business R&D (restoring it to pre-1996 levels), and lift the base tax incentive for R&D by larger firms.

• Support innovative responses to climate change — including through Clean Business Australia, the Green Car Innovation Fund, the Clean Energy Initiative, the Global Carbon Capture and Storage Institute, and the Climate Change Action Fund.

• Improve innovation skills and workplace capabilities, including management and leadership skills — building on Enterprise Connect and the Education Revolution.

• Support the efforts of Australian firms to get their ideas to market — through initiatives including Climate Ready, the Green Car Innovation Fund, and the new Commonwealth Commercialisation Institute.

• Work with the private sector to increase the supply of venture capital — building on the Government’s measures to maintain stability and liquidity in the Australian financial system during the global financial crisis, and on the new Innovation Investment Follow-on Fund.

• Maintain a continuous dialogue with industry about how we can maximise business innovation — including through Enterprise Connect, Industry Innovation Councils, and working groups like that established for pharmaceuticals.

Public sector innovation

... the Australian Government will ...

• Take advice from the Australian Public Service Management Advisory Committee and the Australian National Audit Office on how the public sector can implement the recommendations of the Review of the National Innovation System.

• Use public procurement to drive research, innovation and technology development by Australian firms — building on the new Commonwealth Procurement Guidelines released in December 2008.

• Take steps to develop a more coordinated approach to Commonwealth information management, innovation, and engagement involving the Australian Government Information Management Office and other federal agencies.

• Consider options for reforming the Australian patent system to increase innovation, investment and trade; and supporting intellectual property education for researchers and business.

• Improve the management and regulation of biotechnology and nanotechnology to maximise community confidence and community benefits from the use of new technology — starting with a new National Enabling Technologies Strategy.

Collaboration

... the Australian Government will ...

• Aim to double the level of collaboration between Australian businesses, universities, and publicly-funded research agencies over the next decade — building on initiatives including mission-based funding compacts for universities, Enterprise Connect (including its Researchers in Business Program), Industry Innovation Councils, the new Joint Research Engagement Scheme, and the new Royal Institution of Australia.

• Increase international collaboration in research by Australian universities — building on actions to open important Australian Research Council awards and fellowships to international applicants, and increase multilateral engagement (for example, in the Square Kilometre Array radio-telescope project).

• Renew the Cooperative Research Centres Program along the lines proposed in Collaborating to a Purpose — building on the new program guidelines released in 2008, which reinstate public good as a funding criterion, encourage research in the humanities, arts and social sciences, and increase the program’s focus on the needs of end-users.

• Improve Enterprise Connect’s services to individual firms, anticipating that Enterprise Connect will continue to develop and may include regional clusters and networks uniting businesses, researchers and educational institutions.

• Promote proven models for linking public and not-for-profit researchers with industry and the wider Australian community — including the CSIRO’s National Research Flagships and the CSIRO ICT Centre.

Governance

... the Australia Government will ...

• Strengthen the Prime Minister’s Science, Engineering and Innovation Council, especially its capacity to look over the horizon and identify emerging trends.

• Use the Commonwealth, State and Territory Advisory Council on Innovation to improve intergovernmental coordination, starting with the design and delivery of business programs.

• Give the interagency Coordination Committee for Science and Technology more responsibility and rename it the Coordination Committee on Innovation.

• Increase the use of metrics, analysis, and evaluation to inform policy development and decision-making.

The future

By 2020, the Australian Government wants a national innovation system in which:

• the Commonwealth clearly articulates national priorities and aspirations to make the best use of resources, drive change, and provide benchmarks against which to measure success;

• universities and research organisations attract the best minds to conduct world-class research, fuelling the innovation system with new knowledge and ideas;

• businesses of all sizes and in all sectors embrace innovation as the pathway to greater competitiveness, supported by government policies that minimise barriers and maximise opportunities for the commercialisation of new ideas and new technologies;

• governments and community organisations consciously seek to improve policy development and service delivery through innovation; and

• researchers, businesses and governments work collaboratively to secure value from commercial innovation and to address national and global challenges.

From: Executive Summary, Powering Ideas: an innovation agenda for the 21st century, 12 May 2009

Next speaker was Professor Chris Baker. He started by citing Stanford University's 2006 strategic plan, which while pointing out the unviersity's impressive role in creating new industries and educated captains of industry were working to improve firther. Professor Baker also used the example fo te Cambridge Computer Lab, where about one third of funding come from industry. The comparison with Cambridge is an interesting one. Some years ago on a visit to Cambridge, Sir Peter Swinnerton-Dyer, Chair of the University IT Committee recommended the report "The Cambridge Phenomenon". I found a copy of the report in the ANU library and made a brief study of it:

Segal Quince & Partners (Segal 1985) looked at four policy issues:

• The role of small new technology based firms
• Links between industry and higher educational and research institutions
• The contributions and roles of the public and private sectors in stimulating technological change and economic development. What is the impact of the allocation of allocation of public research funds?
• The spatial distribution of high technology industry. Will there be a trend away from established industrial and urban areas to attractive rural areas?

Lessons of History

• There is a long history (100 years) of high technology companies in Cambridge, due to the University.
• The University is dominant in the city of Cambridge and is strong in scientific fields.
• The region was already growing before the latest hi-tech developments.
• Planning which limited large industrialisation may have helped small hi-tech firms.
• Problems of preservation v development remain.

... two kinds of company links:

• People forming new start-ups from existing companies, the University, or research laboratories
• Subsidiaries of existing companies in the area created, but operating essentially as independent companies

... ``nursery units' ... technology parks were:

• The park was developed in response to demand, not to encourage it,
• Private sector development was dominant,
• The buildings were not especially high technology in design or facilities.

Definition of the Phenomenon

• Large numbers of high technology companies around Cambridge for computer hardware, software scientific instruments, electronics and biotechnology
• Young, small, independent and indigenous companies
• Decades of high technology company start ups
• Research, design and development activities or small volume high value production
• Links between firms, the university and research organisations...

From: The Cambridge Phenomenon, Summary of The Report, From Net Traveller, Tom Worthington, 1999

Based on this I proposed "Building Arcadia: Emulating Cambridge's High Technology Success", some of which was incorporated in NICTA. Some of the lessons from Cambridge were not welcome in academia and in incorporated. As an example, one reason for the creation of so many start-up companies in Cambridge was the lack of tenure for most staff. Researchers who wanted to keep the Cambridge lifestyle had to go out and set up a compnay in order to earn a living.

Pault Stapleton, from NICTA was the next speaker on the NICTA commercialisation model. NITA has licencsing of technology to existing companies and spinouts (creating new companies). More recently NICTA has offered R&C services. NICTA has a commercialisation team to support the researchers.

NICTA's Investment Model

Grants Pre-Commercialisation

Up to AUD 50K Market Development Grant Up to AUD 100K Proof of Concept

• 
• 
• 
• 

Investments for Commercialisation

Up to AUD 250K NIPR Investment

• 
• 
• 

Up to further AUD 250K from NIPR

From: "NICTA's Investment Model", NICTA, 2008.

As an example Paul mentioned the Goanna Software Bug Detection tool , AutoMap map analysis, and the Performance Assessment for Service Architecture (ePASA) for ICT development.

From Research to the Real World

Greetings from the Australian National University in Canberra, where former student Kevin Moore from General Dynamics Mediaware is talking about Commercialising Research: Real-world Applications and Challenges of Digital Video. His company's applications include processing video from the US Predator UAV aircraft used by the US military in Afghanistan and sport video at the Beijing Olympics.

Dr. Moore is discussing how an idea from a research project becomes a commercial product. He pointed out that licensing the intellectual property from a research organisation may take years and require a share of the company or licensing fees . Mediaware obtained government and defence start-up grants, but even so the founders did not take salaries initially and the company started out in a very modest office. The company moved from selling consumer vdeo software to "prosumers". Customers were not just the usual home video market, but also lawyers and professionals. The company is modestly successful, with 90% of the revenue from outside of Australia. In 2008 the company was purchased by General Dynamics, but still operates out of Canberra.

Dr. Moore suggested not "chasing the market" but instead concentrate what real customers need. He used the example of the product InStream. The market was for regioanl TV broadcasters who needed to insert local advertisments into TV content for new HD TV. Existing prodycts ere designed for capital city stations and not affordable for small stations. The traditional was to implement this would be to decode the MPEG video, insert the ads and recode. Mediaware produced a software based system to insert the ads.

From prototype to product took 18 months. This was used by Prime for the Beijing Olympics and won an award. Despite this success, the product still does not have another customer. One problem is that potential customers do not believe that such a product is technically possible and therefore there is not a demand.One obvious use I can see for this technology is to insert information into the video stream from UAV surveillance aircraft.

Dr. Moore then showed examples of JPEG2000 for Wide Area Airborne Surveillance. Military manned and unmanned aircraft in Afghanistan are recording very large amounts of video data over wide areas. This is creating a large data management problem. Mediaware are working on systems to manage this. He commented on the difficulty of collecting requirements from users where the application is highly classified. Another issues is to adjust the quality of the video to suit the avialable military bandwidth.

Dr. Moore then invited the ANU students to apply for a job.

Startups in Sydney

Greetings from "Startup BarCamp Sydney" at the Australian Technology Park as part of Global Entrepreneurship Week 2009. I volunteered to talk on "Innovating to lower costs and carbon emissions with ICT" at 12:30pm. But I broadened this to talk about the process Innovation ACT uses to teach entrepreneurship to students at the Australian National University and University of Canberra and ended up with "Entrepreneurs for climate change mitigation".

The BarCamp is being held in the Innovation Centre at the ATP. For me this is a bit like coming home. In 1998 I used the ATP as an example of how technology innovation should be done in Australia. This was meant to be just an example, but the government appeared to take this advice literally and set up the National ICT Centre of Excellence (NICTA) in the building. I was last here for the CSIRO ICT Centre conference two weeks ago. What I didn't realise is that the ATP is home to ATP Innovations, which is part owned by the ANU.

This Bar Camp has a wider range of participant than BarCamp Canberra, which was focused on web and government. At this event there is one delegate is selling coconuts (for eating and drinking) and another solar thermal power stations.

Startup BarCamp Sydney

"Startup BarCamp Sydney" is being held 21 November 2009 at the Australian Technology Park for Global Entrepreneurship Week 2009. I have volinteered to talk on "Innovating to lower costs and carbon emissions with ICT", which I talked to Innovation ACT about a few monts ago . For those not familiar with the BarCamp format, it can be a bit bewildering. In addition to the celibrity speakers, anyone can present. The rohbust audince participation can also be a bit confronting. The event is free, funded by the sponsors. To participate you edit the home page to add your details and proposed topic. This can see a bit like the Merry Pranksters meet the Calfornian Business Assocation.

Social Networking System for Innovation in Canberra

Greetings from launch of the Innovation ACT Portal at "spacedock" (aka John Curtin School of Medical Research) the Australian National University in Canberra. This is a new social media enhanced web site designed to help students and staff at the ANU and University of Canberra to get together to turn their research into products and services. The new web site will be used in the Innovation ACT program which teaches innovation and then has a competitive process. The ACT Department of Business and Industry Development has funded a new web portal.

This year I talked to the Innovation ACT participants about "Innovating to lower costs and carbon emissions with ICT". Next year the Innovation ACT Portal will include a boot camp for new entrepreneurs and an "i-Prize" for addressing an important social issue.

"No matter what your achievements or future plans, chances are you will need to operate within the world of business. Whether you are planning to be the next high flying entrepreneur, an eminent scientist or one of the literati, you will need to attract funding, obtain industry support or get your own business running to disseminate your ideas.

InnovationACT will give you the skills you need to understand all aspects of business and commercialisation, as well as the chance to be awarded up to $20,000 for your business plan.

InnovationACT provides eight weeks of seminars and mentoring from industry leaders and business professionals. Each team will be guided through the process of writing a professional business plan and could be awarded up to $20 000 by our panel of judges.

Open to all staff and students at the Australian National University and the University of Canberra, with no costs and no strings attached. Come along to learn and mingle with industry professionals or put together a winning team and submit a business plan.

Multidisciplinary teams are encouraged and we provide team formation opportunities. ..."

From: InnovationACT, Innovation ACT Ltd., 2009.

Social Networking for Teaching Innovation

InnovationACT is a program for Australian National University and University of Canberra students to learn entrepreneurship.
The ACT Department of Business and Industry Development has funded a new web portal, to be launched 27th October 2009 at 6pm in the Finkel Lecture Theatre at The John Curtin School of Medical Research. The web portal will use social networking for teaching innovation. For catering purposes please RSVP to InnovationACT@gmail.com

Innovation and carbon emissions

Greetings from Innovation ACT at the Finkel Lecture Theatre, John Curtin School of Medical Research, ANU campus, Canberra. Staff and students of the Australian National University and the University of Canberra are learning how to turn their inventions into products and services. I will be talking at about 7pm on "Innovating to lower costs and carbon emissions with ICT". The session is being recorded and will be available via the Innovation ACT web site. Also I am trying to use a Web Meeting for this.

Innovating to lower costs and carbon emissions with ICT

I will be talking on "Innovating to lower costs and carbon emissions with ICT" at the Innovation ACT Seminar , 6pm, 3 June 2009 at the Finkel Lecture Theatre, John Curtin School of Medical Research, ANU campus, Canberra (Map). For catering purposes please RSVP to InnovationACT@gmail.com. This is a free event sponsored by the Australian National University and the University of Canberra:

Innovation ACT promotes the learning and understanding necessary for the development and commercialisation of a viable product. One area entrepreneurs can seek to commercialise are socially and environmentally sustainable business practices. An example of this are new methods, ideas and products which can reduce carbon emissions by the use of computers and telecommunications (ICT).

The generally accepted figure is that ICT contributes 2% of carbon emissions, but could achieve a 15% reduction in overall emissions by 2020. The ANU will be teaching Masters students how to do this from July 2009, in the course COMP7310: Green ICT Strategies Students can do the course from anywhere in the world, via the web.

About Innovation ACT:

All University staff and students are invited to attend seminars on commercialisation and business planning given by invited speakers from the business community in the ACT and NSW.

We encourage all everyone to come along to learn about all aspects of business and commercialisation.

Participating teams are required to register and are assigned a business leader as a mentor. Interdisciplinary teams are encouraged and a team formation evening - in the form of a speed dating evening will be held. So come along and find a team to offer your services to.

Each team will produce an executive summary and a professional business plan under the guidance of their mentor and will submit this to be judged. Two opportunities are also given to present their ideas in the form of an elevator pitch, where the teams are given a few minutes to pitch their idea, and a longer presentation prior to awards being given.

All aspects of commericalisation and business planning will be covered during the program. Seminars will be provided on the following topics:
- Introduction to Innovation
- Intellectual Property
- Product Definition
- Market Sizing and Validation
- Taxation and Company Structures
- Financials and Resources
- Environmental and Social Sustainability
- Business plan writing and presentation

Additionally, web based resources will be provided throughout the program.

Innovation ACT Launch

Greetings from the launch of Innovation ACT at "spacedock" (aka John Curtin School of Medical Research) the Australian National University in Canberra. This is a program to teach innovation to students at the ANU and University of Canberra. The guest speaker was fabric artist Benjamin Shine, with hsi work including a portrait of President Barack Obama. As well as art, Benjamin does commercial design work, including the logo for the Aphasia Alliance (a topic I was lecturing on today). After a series of seminars on how to turn an invention into a product or service, the students (and staff) from teams, prepare proposals and compete. The winners receive practical experience to implement their idea. One innovation with the program is that it is no confined to profit making patented idea, but can include non-profit open source community benefit idea. John H. Howard, author of Innovation, Creativity and Leadership talked at the launch. The program events are open and a entertaining as well as informative. As part of the program I will be speaking at the "Environmental and Social Sustainable Seminar",6pm, ednesday, 3rd June. My postings from last year's program are also available.

Date	Event	Speaker
30th April	Introduction to Innovation Seminar	Benjamin Shine
6th May	Intellectual Property for Innovation Seminar	Robert Miller (Spruson and Ferguson)
13th May	Team Formation Evening
20th May	Product and Market Definition Seminar	John Hemphill (Pyksis)
27th May	Financial and Resource Management Seminar	Nick McNaughton (Blue Cove Ventures)
3rd June	Environmental and Social Sustainable Seminar	ANU Green
10th June	Business Plan Writing and Presentation Seminar	Lachlan James
1st July	Elevator Pitch Competition
Monday 20th July	Business Plans and Presentations Due
22nd July	Business Plan Presentations
29th July	Gala Awards Dinner

From: Schedule, InnovationACT, 2009

Innovation Competition in Canberra

InnovationANU, a business and commercialisation program, will be run again at the Australian National University, with the University of Canberra. Staff and students from the universities are coached on how to turn their bright ideas into products and services. They then form teams and compete in an elevator pitch competition. The winners receive financial and other support for developing their ideas. Participation in the event is free. The 2009 program starts with an Innovation ACT Launch, 6 pm Thursday 30th April, at the Finkel Lecture Theatre, Building 54, The John Curtin School of Medical Research, ANU. RSVP to InnovationACT(a)gmail.com

All University staff and students are invited to attend seminars on commercialisation and business planning given by invited speakers from the business community in the ACT and NSW.

We encourage all everyone to come along to learn about all aspects of business and commercialisation.

Participating teams are required to register and are assigned a business leader as a mentor. Interdisciplinary teams are encouraged and a team formation evening - in the form of a speed dating evening will be held. So come along and find a team to offer your services to.

Each team will produce an executive summary and a professional business plan under the guidance of their mentor and will submit this to be judged. Two opportunities are also given to present their ideas in the form of an elevator pitch, where the teams are given a few minutes to pitch their idea, and a longer presentation prior to awards being given.

All aspects of commericalisation and business planning will be covered during the program. Seminars will be provided on the following topics:
- Introduction to Innovation
- Intellectual Property
- Product Definition
- Market Sizing and Validation
- Taxation and Company Structures
- Financials and Resources
- Environmental and Social Sustainability
- Business plan writing and presentation

Additionally, web based resources will be provided throughout the program.

From: About InnovationACT, ANU, 2009

Date	Event	Speaker
30th April	Introduction to Innovation Seminar	Benjamin Shine
6th May	Intellectual Property for Innovation Seminar	Robert Miller (Spruson and Fergusson)
13th May	Team Formation Evening
20th May	Product and Market Definition Seminar	John Hemphill (Pyksis)
27th May	Financial and Resource Management Seminar	Nick McNaughton (Blue Cove Ventures)
3rd June	Environmental and Social Sustainable Seminar	ANU Green
10th June	Business Plan Writing and Presentation Seminar	Lachlan James
1st July	Elevator Pitch Competition
20th July	Business Plans and Presentations Due
22nd July	Business Plan Presentations
29th July	Gala Awards Dinner

From: Schedule InnovationACT, ANU, 2009

Technology Transfer Seminar in Canberra

Tom Hammond and Victor Pantano from the Office of Commercialisation will talk on Technology Transfer at the ANU, Canberra, 2pm 28 October 2008:

Technology Transfer at the ANU
Tom Hammond and Victor Pantano (The Office of Commercialisation, ANU)

DATE: 2008-10-28
TIME: 14:00:00 - 15:00:00
LOCATION: RSISE Seminar Room, ground floor, building 115, cnr. North and Daley Roads, ANU

ABSTRACT:
The Office of Commercialisation provides a number of technology transfer related services to the ANU, with the objective of finding paths beyond traditional sponsored research funding to support ANU research with commercial potential.

Members of the Office of Commercialisation Physical Sciences Team will present a short seminar on the support the Office provides in protecting and managing IP to facilitate research and commercial objectives; identifying and evaluating the commercial potential of research outcomes; and travelling the most appropriate path from research to technology transfer in the physical sciences. ...

From: Technology Transfer at the ANU, CECS, ANU

Dr Victor Pantano (Physical Science)

Before moving to the Office of Commercialisation in March 2006, Victor was based at the University of Warwick where he lead a number of projects associated with technology transfer into the UK automotive industry. Based at the International Automotive Research Centre in the West Midlands, his role involved facilitating the development of industry-based relationships with Centre researchers as an outlet for technology transfer. This included the formation of SME-based technology transfer clusters as a means to enhancing regional development. Prior to this, he completed his industry-based PhD with Ford Motor Company, based in various locations including Australia, India and the US. Victor holds a Bachelor of Science (Chemistry) and a Bachelor of Engineering (Honours) from the ANU.

...

Dr Tom Hammond (Physical Science)

Tom comes to the Office of Commercialisation with academic experience in Zoology and Science Communication, and a career in the craft brewing sector.

After completing a BSc (Hons) in Zoology in 1998, Tom spent some time working in wildlife conservation in Western Australia, before completing a PhD in 2002, focusing on the acoustic behaviour of bushcrickets. An interest turned into a career in the craft brewing industry for several years, before Tom came to the ANU to study a Masters in Science Communication at the ANU. Tom brings a sound technical background, an appreciation of the processes of science communication, and an understanding of the requirements of industry to his role in the Office of Commercialisation. ...

From: Office Team, Office of Commercialisation, The Australian National University

Innovation ANU Final Round of Judging

The ANU has been running "Innovation ANU": an education program and competition to encourage researchers to commercialize their work. Six teams will present business plans a panel of judges for the finals this week. Interestingly some of the teams chose to develop not-for-profit projects, by adapting the business skills being shown. The projects range from very technical ones (fleets of miniature robot submarines) to ones involving the arts (encouraging music). The program started out with seminars on business issues and intellectual property and then moved on to fun presentations from the teams.

This Wednesday evening 23rd July will be the final evening of
InnovationANU 2008. After four months of hard work six teams will be
presenting their final business plans to our panel of judges and you are
all welcome to attend to see the impressive ideas that have emerged.

Date: Wednesday, 23rd July
Time: 5.30pm for 6.00pm start
Venue: Finkel Lecture Theatre, John Curtin School of Medical Research

Each team has been allocated ten minutes for their presentation, with
5-10 minutes for discussion with the judging panel following. For full
details about the talks and timing please see the attached agenda.

The InnovationANU program this year has been a success thanks to all of
you who got involved attending lectures, preparing and delivering
elevator pitches and finally preparing and submitting business plans.
From all the organisers we would like to extend our thanks to the over
100 participants who have been involved in InnovationANU in some
capacity this year. We hope this is the first of many years for this
program and we wish you all the very best in your future entrepreneurial
endeavours and hope to see you next year for InnovationANU 2009.

Kindest Regards,

The InnovationANU Organisers

Business Development Program
Team Presentations
Wednesday, 23rd July 2008
5:30pm
Finkel Lecture Theatre
John Curtin School of Medical Research

Agenda

5.30pm Drinks
6.00pm Welcome and Opening Remarks
6.15pm Presentation 1: One Corp - Generation Y Receipt Storage
6.40pm Presentation 2: Fault Technology - Blind minerals exploration
7.05pm Presentation 3: Photos Inkorporated - Online community photo-sharing and printing
7.30pm Break
7.45pm Presentation 4: Harp Centre Australia - A Centre for Harp in the Nation’s Capital
8.10pm Presentation 5: Cardishield - Cardiac protection
8.35pm Presentation 6: Serafina - Swarms of submarines
9.00pm Closing Remarks

How to Write a Business or Commercialisation Plan

The ANU's InnovationANU unit will be having a free seminar on "How to Write a Business or Commercialisation Plan" , Wednesday, 4th June The seminar is by
Cindy Reese, from Epicorp Pty Ltd. and is in Finkel Lecture Theatre in The John Curtin School of Medical Research. This is the same venue as previous events. The evening will commence at 6pm with refreshments before the seminar begins at 6.30pm. Please RSVP for catering purposes: InnovationANU (a) anu.edu.au

Innovation ANU Elevator Pitches

Greetings from the Innovation ANU Elevator Pitches in Canberra. This is the culmination of a series of evening courses to educate university people in how to turn an idea into a product. Earlier each person with an idea presented and then formed teams. About a dozen of those teams now get two minutes each to present their idea. Two judges, from the venture capital industry, select the best for an award and then for development.

The presentations are entertaining. It is remarkably difficult present an idea in two minutes. One part I found surprising was that few of the teams used props for presentations. Most presentations were someone standing at a lectern talking. This makes me appreciate the quality of the presentations which the ANU software engineering present.

Topics of the presentations were aids for home finance, puzzles, teaching English, B2C, photo printing, fast food catering. At that point the next presenter, Felix Schill woke me up by pulling a miniature robot submarine out of their backpack and said these would cost $15,000 each. This is the Serafina, developed by ANU (sort of an underwater Aerosonde).

The next presentation was the EtherDVB", video over Ethernet product. That was followed by the BushLAN system for long distance broadband (might be useful for the last few percent of the population with the government's broadband system). This was followed by a proposal for electronic medical records. Then gold prospecting.

At that point the presentations changed outlook to one with a "non-profit" proposal. The first was about reconciliation and learning about indigenous culture.

When then flipped back to a proposal for keeping track of receipts. There was then a second food proposal. One of the few medical proposals was for a drug to reduce deaths due to heart disease. We then had a proposal for bio-gas for developing nations using cow manure for cooking. There was then a second proposal for e-health records. A less usual proposal was for a low cost harp to be sold online (bit like the OLPC, but for music). The last presentation was for asthma treatment: a counter for dispensers and a test kit to check the medicine is present. It was claimed that these are already protected by patents.

The one hour of elevation pitches went very quickly. The judges are now considering their decision.

... first round of judging and awards and will require teams to submit a two page executive summary and a 2 minute (maximum) elevator pitch. Details about both of these submissions are outlined below. Executive Summary submission will be by midday, Tuesday 22nd April (the day before the judging evening), to give the judges plenty of time to read the executive summaries. The elevator pitch will be conducted on the evening and the order of the teams will be selected randomly on the evening. Both the page and time limits are fixed and teams will be asked to strictly abide by these.

The elevator pitch is a two minute pitch to sell your vision/idea of a product, service or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride. The elevator pitch should be delivered without visual aids (pictures, powerpoint presentations, etc.) and within the required time limit, after which the team will be asked to stop immediately.

Investors will often judge the quality of an idea and team on the basis of the quality of a short pitch such as this as any weaknesses are often easily exposed in this process. An effective elevator pitch is designed to give the audience just enough information that they will have a sense of what you are talking about and want to know more. Second, and just as importantly, it is designed to not give the audience so much information so that they feel overwhelmed (and tune you out). There is an overview of the requirements for the elevator pitch on the resources page of the Innovation ANU Website (www.anu.edu.au/InnovationANU). There is also a good overview of an elevator pitch at http://www.youtube.com/watch?v=Tq0tan49rmc.

An executive summary is similar to a written version of the elevator pitch and outlines many of the relevant elements of your concept and idea and why it will be a success. This should be a two page document without images or other visual elements. There is an overview of the requirements for the executive summary on the resources page of the Innovation ANU Website (www.anu.edu.au/InnovationANU). The executive summary should be submitted in word (.doc) or pdf formats by midday, Tuesday 22nd April. Late submission will rule participants ineligible for this award.

Innovation ANU Elevator Pitch Awards Evening

The Australian National Unviersity is having an evening of "elevator pitches" by budding entrepreneurs on Wednesday in Canberra. This is part of a program to educate university people in how to turn an idea into a product.

The first awards evening is upon us this week and we are in for a very exciting evening. The evening will commence at 6pm in the foyer and later in The Finkel Lecture Theatre of The John Curtin School of Medical Research this Wednesday 23rd April.

The first elevator pitch will commence at 6.30pm and the order of teams will be randomly chosen on the evening. Refreshments will be served all evening. Each elevator pitch will be followed by a short question and answer time. At the conclusion of all the pitches the judges will award the winners of both the elevator pitch and executive summaries with their awards.

Failure to submit an executive summary or elevator pitch may make participants ineligible for the major awards at the conclusion of the program. The following details were sent out last week and are included as a reminder of what is required this week.

* Please note the deadline of the executive summary submission is midday, Tuesday 22nd April, which is the day before the awards evening this week.

* If any more information is required please contact us, otherwise we look forward to seeing you all there.


Regards
The Innovation ANU Organisers


Next week will be the first round of judging and awards and will require teams to submit a two page executive summary and a 2 minute (maximum) elevator pitch. Details about both of these submissions are outlined below. Executive Summary submission will be by midday, Tuesday 22nd April (the day before the judging evening), to give the judges plenty of time to read the executive summaries. The elevator pitch will be conducted on the evening and the order of the teams will be selected randomly on the evening. Both the page and time limits are fixed and teams will be asked to strictly abide by these.

The elevator pitch is a two minute pitch to sell your vision/idea of a product, service or project. The name reflects the fact that an elevator pitch can be delivered in the time span of an elevator ride. The elevator pitch should be delivered without visual aids (pictures, powerpoint presentations, etc.) and within the required time limit, after which the team will be asked to stop immediately.

Investors will often judge the quality of an idea and team on the basis of the quality of a short pitch such as this as any weaknesses are often easily exposed in this process. An effective elevator pitch is designed to give the audience just enough information that they will have a sense of what you are talking about and want to know more. Second, and just as importantly, it is designed to not give the audience so much information so that they feel overwhelmed (and tune you out). There is an overview of the requirements for the elevator pitch on the resources page of the Innovation ANU Website (www.anu.edu.au/InnovationANU). There is also a good overview of an elevator pitch at http://www.youtube.com/watch?v=Tq0tan49rmc.

An executive summary is similar to a written version of the elevator pitch and outlines many of the relevant elements of your concept and idea and why it will be a success. This should be a two page document without images or other visual elements. There is an overview of the requirements for the executive summary on the resources page of the Innovation ANU Website (www.anu.edu.au/InnovationANU). The executive summary should be submitted in word (.doc) or pdf formats by midday, Tuesday 22nd April. Late submission will rule participants ineligible for this award.