Since conception, the CRC Program of the Australian Government has aimed to deliver social and economic benefits for Australia and the world through the development of breakthrough products and technology. The CRC for Eye Research and Technology, now the Vision CRC, has been focused on converting breakthrough research into successful commercial products to correct and treat refractive error.
Vision CRC, the more recent stage of the CRC for Eye Research and Technology, can already boast a successful history of innovation. Since 2003, Vision Cooperative Research Centre (Vision CRC) has created an alliance of expertise that brings together a wealth of talent from leading research institutes, universities and industry partners from around the world, all aimed at achieving a common goal – to deliver innovative solutions to common eye conditions; products such as AIR OPTIXTM AQUA MULTIFOCAL contact lens. Technology developed in partnership with Professor Earl Smith at the University of Houston and other colleagues to control the progression of myopia in children has been licensed as MyoVisionTM spectacles and myopia control contact lenses from Vision CRC are likely to be released next year. Through licensing to commercial subsidiaries, Vision CRC has attracted an excellent return – royalties in excess of $250 million to date.
The Cooperative Research Centres (CRC) Program was established in 1991 as an Australian Government Initiative which supports outcome focused research partnerships between publicly funded researchers, business and the community to address major long-term challenges.
However, with all the good work CRCs do, the recent announcement, in the Federal Budget, that there will be an $80 million cut in the CRC program has led some to believe that the program – admired in many countries – is now under threat.
Professor Brien Holden, CEO, Vision CRC and CEO, Brien Holden Vision Institute, reflects on the achievements of Vision CRC, highlighting upcoming innovations and how the Federal Budget will impact Australia’s CRC program.
Click here to continue reading.