The University of Melbourne is launching two new major investment funds, worth a combined $115 million, to help researchers commercialise their work in new startups.
The $15 million University of Melbourne Genesis Pre-Seed Fund, established in conjunction with Breakthrough Victoria, will provide funding for early-stage research, ideas and new technologies and will facilitate access to University networks and mentoring to create seed-fund-ready companies.
Up to 20% of this funding can be invested in social purpose ventures.
Government-owned Breakthrough Victoria will invest $7.5 million in the Genesis fund, with funding matched by the University of Melbourne.
Breakthrough Victoria Chair John Brumby said the fund will amplify and accelerate the support for commercialisation of important research from the University of Melbourne.
