The University of Melbourne Announces New $115 Million Investment Fund at Melbourne Connect
This morning at Melbourne Connect, Vice-Chancellor of The University of Melbourne, Duncan Maskell, in conjunction with Breakthrough Victoria and Tanarra Capital, announced the establishment of two new major investment funds to the sum of $115 million. These two investment funds will be dedicated to helping translate Melbourne’s world-leading research into impactful solutions that will help benefit the greater society.
The first of these two investment funds, The University of Melbourne Genesis Pre-Seed Fund, created in partnership with Breakthrough Victoria, will see $15 million directed towards creating seed-fund-ready companies that are grounded in research and new technologies from within the University network.
In addition, the $100 million Tin Alley Ventures Fund will invest in high-potential startups from within the University and affiliate networks and assist them in going from seed-stage enterprises through to pre-IPO, with an added focus on engaging the University’s alumni networks to assist in company growth and investment.
University of Melbourne Vice-Chancellor Professor Duncan Maskell said: “Universities have a social responsibility to make a difference in the world, and one way we do this is through translating our research into public good. The University of Melbourne has a strong track record of applying innovative research, from the Cochlear implant and the Synchron implantable brain-computer interface, through to conserving the world’s oldest Indigenous art through our Grimwade Centre.
“While these success stories are inspiring, Melbourne’s legacy is one of continuing innovation. Our two new Funds will play a critical role in supporting researchers to take more risks, to be creative in their thinking and accelerate the possibilities to take research discoveries from an idea to market.”
As the natural home of innovation within The University of Melbourne ecosystem, Melbourne Connect plays host to a vast array of students, alumni networks, early-stage startups and research-based enterprises that are striving every day to create impactful change on a societal level. We are thrilled with the announcement of these two new investment funds, which will allow for an even greater focus on innovation, design, and commercialisation of Melbourne’s world-leading research and discoveries.