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Accelerating ideas towards marketplace

Friday, 3 August 2007

The ÐÓ°ÉÖ±²¥ of Adelaide 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 ÐÓ°ÉÖ±²¥'s commercial development company .

Under the scheme, ÐÓ°ÉÖ±²¥ of Adelaide 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.

ÐÓ°ÉÖ±²¥ of Adelaide 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 ÐÓ°ÉÖ±²¥ of Adelaide - 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."

ÐÓ°ÉÖ±²¥ of Adelaide commercial success stories include: - the first biotech start-up company in ÐÓ°ÉÖ±²¥; - a biopharmaceutical company recently taken over by Danish company Novozymes; new cereal varieties bred at the ÐÓ°ÉÖ±²¥'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 ÐÓ°ÉÖ±²¥'s North Terrace campus.

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