“This is a very exciting development for UniServices as it provides us with the opportunity to rapidly support emerging research, ideas and technologies that are developed at the University of Auckland, whether these are developed by staff or students.
Over the past five years we have delivered a 3-fold realised return on capital deployed in our early-stage investments and we look forward to accelerating the number of products and companies from the University.” Will Charles, GM Technology Development.
Background to fund development at UniServices
For over 10 years UniServices has been providing early proof of concept and pre-seed investment to support the University’s research discoveries, ensuring that they reach a point where commercial usefulness can be demonstrated and the first steps are taken to ensure commercial viability.
The availability of seed funds is critical to the commercialisation process in a number of ways – financing access to managerial skills; securing or enhancing intellectual property; supporting additional R&D; construction of a prototype; preparation of a business plan; covering legal costs; etc.
In 2015 the University of Auckland made considerable funds available to expand UniServices’ investment activities. To further accelerate this growth, UniServices is now making an additional $5m investment facility available to make the $10m University of Auckland Inventors Fund (UoAIF) a reality.