CALL FOR INITIAL APPLICATIONS
Victoria Government - Industry Academic Research Internships
2006 / 2007
The Victorian Government, through the Department of Industry Innovation and Regional Development, is providing funding to enable this research internship scheme. The aim of the scheme is to provide opportunity for finance/commerce academics from Victorian Universities to spend three months working full time with a finance sector organisation on research activities. It is anticipated that the academics involved will be typically at Lecturer/Senior Lecturer level, and able to offer valuable skills and insights to the organisation, while gaining valuable industry experience.
The internships are particularly suited for academics who are planning a sabbatical (or other period of) leave and wishing to remain in Melbourne. They would also be suited to cases where an individual has (or can arrange) a period of three months free of teaching and other University commitments and where the Head of Department/Dean is willing to approve such a secondment. Heads and Deans should note that the organization supplying the academic will receive $20,000 which could, for example, be used for replacement teaching resources.
There are three internships available.
Internship holders will remain in the employment of their University on normal salary (and leave conditions etc). The University will receive contributions from the internship fund and the participating industry employer.
A number of organizations have indicated their interest in participating in the scheme, including:-
· AAMI
· ACCC
· ASIC
· Mastercard
· NAB
· VFMC
Initial Application
In the first instance, Applicants should respond to the Melbourne Centre, indicating preferred areas of study, availability times and other detail as set out in the Initial Application form. A Selection Panel will consider all applications and will select a short list of potential candidates. The short listed candidates will then be invited to meet with one or a number of participating organizations and develop a specific proposal. Final selection of candidates will then be made by the Selection Panel in consultation with the participating organizations.
Applications must be made on the prescribed form and should be submitted electronically. A hard copy of the cover page of the Initial Application form, together with the required signatures, should be mailed or faxed to the Centre. Electronic reply as an attachment, in Microsoft Word, should be addressed to with a header marked “Industry Academic Research Internships: 2006/2007”. Electronic and hard copies must be received at the Melbourne Centre by 5 pm on Friday, 1 September 2006. The initial application form can be downloaded from the Centre’s website at: http://www.melbournecentre.com.au/.
The final selection from among short-listed candidates will be made no later than 30 October 2006 (and earlier if possible).
The Arrangements in more detail
Internships will be provided for finance/commerce academics (on a competitive basis) enabling them to spend a period of 3 months seconded to a firm in the finance industry to work on a research project of specific interest to the firm. The specific project would be negotiated between the sponsoring firm and the academic involved. The academic would be released from all academic commitments for the period and would be located full time at the firm. The academic would continue to receive their usual University salary and related benefits.
Funding for the secondment is shared approximately equally between the Victorian Government (via the internship), the firm, and the academic’s University. The Victorian Government contribution is $10,000 and, depending on the level of appointment and salary of the academic, the contribution of the University and industry would be in the vicinity of $10,000 each. The internships are awarded by the Victorian Government. The selection process will be managed by the Melbourne Centre for Financial Studies with Government and possibly sponsoring firm representation on the selection committee.
Expected Outcomes
The aim of the scheme is to generate both direct and indirect benefits to participants. In particular, the major benefits of the scheme are expected to be:-
· Production of a research report for the industry sponsor which may be private intellectual property, but desirably would involve some public intellectual property suitable for eventual publication in an academic journal.
· Development of relationships between academia and industry
· Assimilation of industry practices by the academic which can be used to inform subsequent teaching and research
· Potential for development of an ARC Industry Linkage grant application involving the academic and industry sponsor.
Application and Selection Mechanisms
Agreement of your Head of Department in support of such secondment will be necessary.
The internships would be particularly suited to:
· Staff undertaking a study leave period based in Melbourne
· Staff with a period of the year free of teaching duties
· Staff at lecturer or senior lecturer level looking to build industry relationships with a view to Linkage Grant applications
· Staff involved in teaching in areas where enhanced knowledge of industry practice would be particularly valuable
Interested applicants will be directed towards a nominated representative of participating firms to discuss possible projects. Applications will also be welcome from academics who have found other firms interested in participating as industry sponsors in the scheme.
The selection committee will include:
· the Director of the Melbourne Centre for Financial Studies
· the Chairman of the Melbourne Centre for Financial Studies
· a senior academic (Professor, Associate Professor) from one of the Consortium Universities involved in the Melbourne Centre for Financial Studies
· a representative of the Victorian Government
The Selection Committee will consult with representatives of the sponsoring firms regarding the suitability of, and willingness of the firm to accept, applicants.
The Selection Criteria will be based on such things as: past performance by the academic; apparent suitability for secondment to an industry partner; expected benefits to the academic’s research and teaching activities; expected benefits to the industry partner.
Reporting and Monitoring
.
· Internship recipients will be required to maintain regular contact with the Director of the Centre during the internship to report on progress.
· Public reporting of internship projects is subject to the approval of the industry sponsor and the Melbourne Centre
· Internship recipients may be required to sign confidentiality agreements.
· Internship recipients are required to advise the Centre when output from the project is submitted to conferences, presented at seminars or submitted to journals.
· Internship recipients are required to acknowledge the financial support of the Victorian State Government Department of Industry Innovation and Research and the Melbourne Centre of Financial Studies in any resulting publications.
Other Conditions
Academic Internship recipients must commence, or be continuing, their research projects within their nominated academic years so that expenditure of all funding is completed for each individual recipient on or before 30 June 2007.
Recipients must acknowledge the financial and other support it has received from the Minister and the Department in all publications, materials, websites and activities relating to the Academic Internships program.
Intellectual Property and copyright in all data, information, material and documents written, created or prepared in relation to this Academic Internship program will be agreed to on a case by case basis and shall vest in accordance with agreements between the Internship recipients and the relevant Industry Sponsors.
The holders of those Intellectual Property and copyright entitlements are to be advised by Melbourne University acting through the MCFS that the State takes no interest in that research report delivered as a consequence of the Academic Internship program.
The Internship recipients (subject to commercial in confidence arrangements) should be in a position to provide the Melbourne Centre access to final reports and research findings in order for the Centre to highlight the benefits to the program.