IP Group pours millions into commercialising research

Listed United Kingdom technology investor IP Group will pour AU$200 million (US$148 million) into commercialising research at top universities in Australia and New Zealand in what universities say is a "massive vote of confidence" from global capital markets in local innovation, writes Tim Dodd for the Financial Review.

The commitment, over 10 years, aims to bring early stage companies through the so-called ‘valley of death’ in which new start-ups struggle to find investment and management expertise. University of Queensland Vice-chancellor and Group of Eight Chair Peter Hoj said the investment from IP Group – the first major investment in Australian university research from overseas venture capital – was critically important.

IP Group, which started in 2000 with an investment in research from Oxford University's chemistry department, is now capitalised at £880 million (US$1.1 billion), and invests in research at top universities in the UK and the United States. The Group of Eight universities – Sydney, Queensland, Melbourne, Monash, Western Australia, Adelaide, University of New South Wales and Australian National University – as well as the University of Auckland in New Zealand, will compete for investment from the IP Group.
Full report on the Australian Financial Review site