Industry groups representing Australian universities are backing the federal government’s move to explore how the sector can better commercialise research and technological developments. The proposal comes as the tertiary sector grapples with a post-COVID economic environment, which has seen the sector shed 17,300 jobs and lose over $1.8 billion in revenue over the past year. The government launched the University Research Commercialisation consultation paper in late February, seeking to gather ideas on how to best “maximise” the economic benefits of university research. “We want our high-quality research to better translate into the breakthrough products, new businesses and ideas we need to grow our economy and improve our society,” Education Minister Alan Tudge said at the University of Melbourne. The Group of Eight Universities CEO Vicki Thomson said the country’s top eight universities carried out 70 percent of Australia’s research activity and were ready for the challenge. “The Go8 is fortunate …