The number of new businesses created from the work of Victoria University of Wellington researchers has the potential to grow dramatically with the completion of a Memorandum of Understanding between Powerhouse Ventures Limited and VicLink, the University’s commercialisation office.
The two parties have agreed to work together to identify and establish new businesses derived from intellectual property and technologies established by Viclink.
Viclink has a proven track record of success in transforming Victoria University’s world-class research and intellectual property into products and services, having secured ten licenses of substance, and spun out four technology start-ups and eight student start-up companies in the past four years alone.
Powerhouse Ventures specialises in developing and shaping research from trans-Tasman universities into world changing businesses. It has developed a unique approach, providing access to business building expertise, capital, networks, recruitment and ongoing business support. Its portfolio currently comprises 22 early stage to mature businesses founded on university and research institute Intellectual Property. The company is preparing for an IPO on the ASX later this year.
Colin Dawson, Chief Operating Officer Powerhouse says that the capability of Victoria University researchers is recognised and respected internationally. "We rate highly the calibre of research work that we have seen to date."
"Powerhouse is pleased to begin an exciting new phase in its relationship with Viclink, and play an active and hands-on role in commercialising exciting and ground breaking research projects.
"This relationship has great potential to further stimulate and support entrepreneurship at Victoria University, create jobs and to enhance Wellington’s regional development."
Geoff Todd, Managing Director of Viclink, says the collaboration is important for both parties.
"Viclink has had a strong partnership with Powerhouse in the past and we are excited to continue this in the future. This expanded relationship will extend our mutual ability to build new companies and new possibilities from Victoria’s research."
Powerhouse will take an important role in commercialising intellectual property and technologies emanating from Victoria University, and is currently discussing five start-up possibilities. In addition the parties are exploring the possibility of Powerhouse investing in a significant holding of the Viclink portfolio, and for a Powerhouse representative to join the Viclink Board.
Dawson says: "This agreement provides the best of both worlds; working together will give new investment options to Powerhouse and raise Viclink’s profile in the investment community."
