Breakthrough Victoria has launched new investment partnerships worth $87 million with five universities to help move life-changing research out of the lab and into the market.
Swinburne University of Technology will co-invest $9 million in investment, which is matched by Breakthrough Victoria, to create new ventures to drive commercialisation of our research.
This investment ensures that Swinburne University of Technology can continue to drive innovation and gives our researchers confidence their ideas can come to life.
Each partnership will invest in startup companies spun out of research, with pre-seed and seed investments of up to $1 million each.
Minister of Industry and Innovation Ben Carroll made the announcement at the opening of the Global Entrepreneurship Conference in Melbourne, with over 4,000 investors and entrepreneurs from around the world.
The partnerships are being established under the $100 million Breakthrough Victoria – University Innovation Platform, which aims to increase commercialisation of critical research with real-world benefits from Victorian universities.
Swinburne Vice-President Innovation and Enterprise Dr Werner van der Merwe highlights the importance of the partnership to our value creation strategy.
“As an engine room of innovation, we have a proud track record of transforming pioneering research into hands-on application, through spinout ventures and savvy commercial endeavours.
“This co-investment partnership means we can continue to create impact at scale in fields like aerospace, health, sustainability and manufacturing, all underpinned by an innovative society and the workforce of the future.”
Investments in startups at this critical early stage will help fund product concepts, prototypes and trials to support research with strong commercial potential.
Researchers and academics will also receive support to better identify and translate ideas into commercial opportunities and improve their entrepreneurial capability. The partnership agreements have been co-designed with each individual university to respond to the specific needs and stage of their research commercialisation journey.