Breakthrough Victoria turbocharges university commercialisation
The next breakthrough could be just around the corner thanks to $100 million investment to take university research from lab to market
Our universities and innovators discover thousands of breakthrough ideas and technologies each year. Many have the potential to improve the lives of Victorians, boost productivity and support emerging industries.
But we underperform in developing viable and home-grown ideas at commercial scale.
This is where Breakthrough Victoria comes in.
We are supporting universities to commercialise Victorian research through a new investment platform that matches investment by Victorian universities to create early-stage, pre-seed investment funds. The Breakthrough Victoria – University Innovation Platform gives innovators expert advice and support.
Each university will have the opportunity to co-design their fund to ensure it is fit for their purpose and ecosystem.
The first – The University of Melbourne Genesis Pre-seed Fund – is a $15 million fund to bring to life ideas and research from the University of Melbourne. This is the start of many funds to come that will draw on the deep expertise of our institutions and researchers and pair it with commercial investment know-how.
Victorian Premier Dan Andrews said:
“The Breakthrough Victoria – University Innovation Platform will fund and commercialise innovations from Victorian universities that could have a real impact on the lives of Victorians.”
Breakthrough Victoria CEO Grant Dooley said:
“Our research institutions and innovators discover thousands of breakthrough ideas and technologies each year that could improve the lives of Victorians, boost productivity and support emerging industries. Investing in early-stage research over the long-term and forging partnerships with universities would significantly boost commercialisation rates. The platform provides a pipeline to support larger scale growth for these companies.”
Watch the video here: