This article explores where and how to re-value research in theological education. Robert Banks, an Australian biblical scholar and practical theologian, appealed for a re-envisioning of theological education including refocusing research with 'missional' application, not primarily serving academia, but also church and society. Excellent theological research values engagement and impact with local and global issues. This is consistent with a Practical Theology preference for application, and also a broader Mode 2 or triple helix impetus for academia to address government priorities and industry concerns, let alone the common good. To develop excellence in research that has value for society requires institutions and researchers to allocate time and resources, beginning with conceptualising research as important. It requires re-valuing of training and exercise of critical thinking and clear writing. Finally, it benefits from re-valuing of research collaboration, especially through academic networks and research centres.