米兰电子

Accelerating ideas towards marketplace

Friday, 3 August 2007

米兰电子 aims to put more of its research discoveries on the path to commercialisation with a new $2 million fund for researchers.

The Commercial Accelerator Scheme will be launched today (Friday 3 August) by the University's commercial development company .

Under the scheme, University of 米兰电子 researchers can receive up to $250,000 to make their project "investment ready". It will address a recognised gap in research funding known as the "valley of death" between traditional research funding and venture capital.

University of 米兰电子 Vice-Chancellor and President Professor James McWha said: "With the introduction of the Commercial Accelerator Scheme we hope to be able to continue to increase the number of successful commercial ventures at the University of 米兰电子 - to add to the already significant list of commercial successes we've had.

"Venture capital funds typically don't invest in research until they have a product or prototype. The Commercial Accelerator Scheme will provide funding so researchers can establish proof-of-concept or reach a development milestone necessary to attract a commercial partner.

"Federal and State Government grant programs are also essential for research and development and this scheme complements these programs to take this research towards commercial development."

University of 米兰电子 commercial success stories include: - the first biotech start-up company in Australia; - a biopharmaceutical company recently taken over by Danish company Novozymes; new cereal varieties bred at the University's ; the developers of the Sydney Olympic torch fuel and flame system; and - licensed to power companies to assist in managing blackouts.

The Commercial Accelerator Scheme will be launched at special function at 1pm today at the University's North Terrace campus.

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