Monday 19 October 2009
AIC’s TechFast program assists Russell Mineral Equipment
In 2005 the AIC engaged Toowoomba based Russell Mineral Equipment (RME) into the AIC’s TechFast program. RME was eager to engage with the research sector in order to enable RME to better embrace open innovation and collaboration.
RME had been disappointed at the failure of a previous collaborative project and relationship with their local university, and were ready to abandon the relationship at the time the company first joined TechFast.
Through the TechFast assistance provided by the AIC, RME were shown how they could better engage with the university. As a more solid relationship developed, RME continued collaborating with the university and embarked on a new collaborative project of interest to the company. TechFast also assisted RME to engage with the Julius Kruttschnit Mineral Research Centre (JKMRC) to add further expertise to this project.
RME Managing Director John Russell said TechFast was “the perfect adaptor plate between academia and industry that also showed RME what it should do to better engage”. He went on to comment that the TechFast Manager revealed shortfalls on RME’s side as well as the research organisation’s, and kept both sides moving to meet milestones, despite distractions.
TechFast assistance to RME also included assisting them to access Commonwealth Government funding of over $200,000 to support the collaboration.
Since this assistance the company has gone on to achieve the following positive outcomes:
à The initial collaboration project learnings have been incorporated into new product versions released by RME
à As a result of the collaboration established with JKMRC, in 2008 JKMRC approached RME to assist them to commercialise a new technology developed by JKMRC, and this has further increased RME revenues and employment activity.
à RME have strengthened their collaborative relationship with their local university, and RME Managing Director John Russell now chairs a local economic development initiative established by the university
à RME revenues and employees have grown three fold since commencing the TechFast program in 2005
à RME again won the Australian Export Awards “Large Advanced Manufacturer” category in 2008, and will be inducted into the Australian export awards Hall of Fame in 2009
à RME recently built and commissioned a new state of the art manufacturing facility in Toowoomba which will be officially opened by Premier Bligh later this year.
For more details about Russell Mineral Equipments’ TechFast participation or the program please contact - Alex Blauensteiner on (07) 3853 5259.
