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Superannuation funds should look to innovation: Peter Beattie
Former Queensland Premier Peter Beattie has urged Australian superannuation funds to consider investing in innovation via appropriate models.
Addressing the Conference of Major Super Funds in Brisbane, Beattie outlined the success enjoyed by the Medical Research Commercialisation Fund (MRCF) and the involvement of two superannuation funds in the underlying model.
He said he believed the MRCF model provided a model that was unique and worth following.
Beattie said this was particularly the case when Australia spent more than $1 billion on research and development, but a fraction of that on commercialisation.
He said he believed Australia should develop a pool of funds for commercialising its research ideas and that superannuation funds should support the establishment of that pool of funds.
AUTHOR
Mike Taylor
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