A joint initiative launched between UTS, four other universities and one of Australia’s biggest companies, will provide seed investment to ventures translating academic research into applied technology.
Significant Capital Ventures is a partnership between Canberra-based construction and property company Hindmarsh, University Technology of Sydney, The Australian National University, University of Canberra, Deakin University, and University of Wollongong.
The investment fund, which aims to grow to $50 million off the back of investment from UTS and partner universities, was launched by Minister for Education Dan Tehan in Canberra this week.
John Hindmarsh AM, Executive Director of Hindmarsh, said he was delighted to partner with Australia’s leading universities in the management of Significant Capital Ventures and to contribute to the fund as a major investor.
“Significant Capital Ventures brings together entities with a strong record in driving and investing in innovation, enabling them to partner with a network of very capable and promising sources of innovation,” Mr Hindmarsh said.
“The fund will help encourage the industries of the future, which will provide jobs, investment and economic growth.”
UTS Deputy Vice Chancellor for Innovation and Enterprise Professor Glenn Wightwick said the next crucial step in the University’s commitment to boosting entrepreneurship was to provide promising ventures access to investment.
“In our mission to deliver entrepreneurial experiences to 50 per cent of our students within the next five years, opening up broad exposure to valuable opportunities through our partner and industry networks will be key,” he said.
“That means tapping into the expertise of credible, experienced partners like Significant Capital Ventures to provide the best outcomes for ventures coming out of UTS and maximise the impact of our research. We’re looking forward to working with Nick and the team so our teams can achieve their full potential.”
Australian National University’s Professor Mike Calford said collaboration among universities with the private sector will advance research ideas into products that will help improve our lives.
“Our partners in this program are all world-leading in applied technology research and development. Significant Capital Ventures will invest in proven technologies, applied research and develop new applications.”
“We are extremely honoured to have the support of John Hindmarsh and the Hindmarsh company in helping advance research and innovation,” he said.
For UTS, the partnership comes following the signing of major venture capital partnerships with Galileo Ventures and Main Sequence Ventures, giving UTS-based entrepreneurs and researchers access to over $230 million in investment.
For more on entrepreneurial opportunities at UTS, visit www.entrepreneurship.uts.edu.au.