Australia’s Group of Eight Universities (Go8), which is comprised of the nation’s eight leading research intensive universities and includes The University of Western Australia, has entered a landmark agreement, the first of its type in Australasia, with UK based IP Group PLC.
The agreement will see at least $200 million invested in finding and developing companies involved in research and innovation.
PLC said the agreement seeks to support the best and brightest researchers to translate their findings into new and innovate ways to improve the economic and social well-being of Australians.
The agreement highlights the confidence in the Go8’s research capability. PLC chose, after exhaustive research, Australia’s Go8 universities when diversifying from its UK and US markets, a global accolade for the Go8.
The 10-year investment of at least $200 million will go a long way to addressing a local market failure, and identifying and developing spin-outs from our universities.
It places Australia’s leading research universities in the distinguished company of IP Group’s existing partner universities – among them Oxford and Cambridge in the UK, and Columbia and Princeton in the US.
The fund, to be supported through a capital raising will specifically support “disruptive innovation”; spin-out companies based on the intellectual property (IP) developed by academics and generated from research in areas such as digital medicine, new medical therapies and quantum computing.
Jess Reid (UWA Media and Public Relations Advisor) (+61 8) 6488 6876