There is no proof that government moves to encourage the commercialisation of science research are working, a committee of MPs has said.

Ministers are encouraging research bodies to improve the commercial application of their research, in co-operation with the private sector, as part of a strategy to promote economic growth.

The government has said that supporting the public interest will continue to be the main aim of research conducted by the 83 public sector research establishments - which are funded by seven separate Research Councils and overseen by the Department for Trade and Industry.

However the influential Commons public accounts committee warned on Thursday that "the prospect of financial reward could lead to priorities being distorted or improper action being taken".

The MPs called for robust controls to protect the public good and ensure that rewards are shared between the research bodies and the people who work for them.

And the committee warned that there is so far no proof that the government's aim is being achieved.

"There is insufficient evidence on the progress of commercialisation from which to conclude how well research establishments are doing," the report said.

It called on the Office of Science and Technology to compel the Research Councils to set broad objectives for commercialisation, with clear targets and evaluation criteria.

The report also warned that the research bodies, responsible for spending £500 million of taxpayers' money each year, are failing to adopt proper strategies for managing risk.

The report found "little sign" that the public sector research establishments have adopted the best practice for managing the risks of commercial development.

"Commercial projects, by their nature, will not all be successful," the report accepted.

The MPs called for a "balanced overall view" based on a "portfolio approach" so that the failure of an individual project does not overshadow success elsewhere.

"There is little sign, however, of opportunities being appraised and risks being managed on a portfolio basis. The department and Research Councils should formulate guidelines about the circumstances in which a portfolio approach is relevant and offer guidance on how best to obtain the benefits," the report found.