IP Group pours millions into commercialising researchFinancial 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