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Uniseed doubles its research partners to support more university spinouts

Uniseed, a venture fund backed by Australian universities, has doubled its research partners from five to 10 in its efforts to support more start-ups formed around university technologies.

Uniseed’s new partners include Monash University, the University of Newcastle, the University of Technology Sydney, Western Sydney University and Macquarie University. Collectively, the new partners spend around $7.7 billion AUD a year on research, accounting for roughly 60% of the total spent by Australian research institutions.

The partners will match the remaining commitments of Uniseed’s existing members, providing an additional $6.75 million to the Uniseed Fund-3, which will increase the fund size to $56.75 million.

According to Uniseed CEO Peter Devine, the expansion demonstrates the important role the fund can play in backing tech start-ups.

“Where previously we had the ability to support 42% of spin outsfrom research organizations in Australia, our partners will now cover more than half of all commercial research output generated by Australian institutions,” says Devine.

Source: Startup Daily

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