In 2023, the IPAVentures team undertook an exploration of whether the IP system could play a role in achieving social as well as economic aims.
Why did we do it?
The IP system has traditionally been seen primarily as something aiding economic development and growth. This work explored the potential of the IP system to address social objectives alongside its traditional economic role. It took place in a broader context of similar discussions and investigations, such as those of the Australian Treasury developing a national wellbeing framework to track progress towards a more healthy, secure, sustainable, cohesive and prosperous Australia.
This work was exploratory and intended to spark discussion and reflection about the appropriate boundaries of the IP system.
What did we do?
The team applied a rigorous, product-led approach to gather insights and explore potential options:
- extensive desktop research
- hypothesis testing and validation
- multiple rounds of stakeholder interviews.
We prioritised evidence-based options rather than making definitive recommendations.
What did we learn?
Our extensive desktop and customer research uncovered three critical insights about the future of the IP system and its current challenges:
- Governments and society are struggling to keep up and respond to the numerous global crises.
- Social good presents a huge economic opportunity for Australia.
- Intellectual Property plays a critical role in addressing these challenges.
A number of concepts were identified through this work, and three were developed as possible interventions for how the IP system could more actively contribute to:
- Increasing the volume and quality of social innovation.
- Amplifying positive social impact.
- Minimizing potential harm from innovation.
What happened?
This work helped stimulate conversations about whether there might be a role for the IP system to play a role in achieving social good, alongside economic goals.
Get in touch
If you would like to know more about our ventures or have ideas reach out to us mdb-ipaventures@ipaustralia.gov.au.