Uniseed, Australia’s pioneering venture fund, has taken a significant move forward in advancing Australian innovation with the announcement of an expansive collaboration with leading universities.
Monash University is welcomed as a full partner, while a new consortium of New South Wales (NSW) universities, including the University of Newcastle, the University of Technology Sydney (UTS), Western Sydney University, and Macquarie University, joins the alliance.
In a press release, Uniseed said this strategic expansion positions it as a powerhouse, with the inclusion of these institutions alongside existing partners such as the Universities of Queensland, New South Wales, Melbourne, and Sydney, as well as Australia’s national science agency CSIRO.
The collective research expenditure of this extended partnership, ranking within the top 25 Australian universities, totals approximately $7.7 billion annually, constituting around 60 per cent of the total research spend by all organisations in Australia.
Uniseed’s CEO Dr Peter Devine, highlighted the fund’s role in investing in researchers, technologies, and businesses that drive positive global change.
The expansion underscores the fund’s commitment to fostering innovation in a rapidly evolving landscape, with particular relevance to the defence and security sectors.
The partnership amplification brings Uniseed’s representation to 60 per cent of Australia’s research expenditure, significantly impacting invention disclosures, patent applications, active patent families, new start-ups, and active start-ups.
Dr Devine underscored the fund’s success in supporting start-ups born from Australian research and ingenuity, citing notable examples such as Spinifex Pharmaceuticals, Fibrotech Therapeutics, Aurtra, and Kinoxis Therapeutics.
The 66 start-ups supported by Uniseed have collectively raised over $1.2 billion, contributing significantly to the Australian economy and creating over 1,000 jobs.
“This is a very significant partnership expansion as it considerably expands the reach we can offer in funding new startups and commercialising technologies developed by Australian research institutions,” Dr Devine remarked.
Monash University and the collective of four new NSW universities will match the remaining commitments of Uniseed’s existing members, injecting an additional $6.75 million into Uniseed Fund-3.
This augmentation, along with UniSuper’s $75 million commitment (made in 2022), brings the total fund size to $56.75 million.
This capital injection will further support advancements in biotechnology, pharmaceuticals, quantum computing, green energy, and other industries shaping the future.
