Program Objectives
The objectives of the Pre-Seed Fund (PSF) are to:
- assist the commercialisation of Research and Development (R&D) activities undertaken by universities and public sector research agencies by providing finance and managerial advice;
- encourage private sector investment in R&D activities undertaken in universities and public sector research agencies for commercialisation;
- build linkages between universities, public sector research agencies, the finance community and business for the commercialisation of R&D activities;
- build entrepreneurial and intellectual property management skills in Australian universities and public sector research agencies; and
- encourage researchers in universities and public sector research agencies to consider the commercial opportunities of their research discoveries.
Program history
The PSF program was introduced in 2001 to help increase the commercialisation of promising R&D undertaken by Australian universities and public sector research agencies such as the Commonwealth Scientific and Industrial Research Organisation, the Australian Nuclear Science and Technology Organisation, the Australian Institute of Marine Science, the Defence Science and Technology Organisation, and Cooperative Research Centres. It provides capital to opportunities at the pre-seed stage.
The program seeks to encourage the private sector to take a more active role in funding and managing the commercialisation of the research.
The Government has provided capital of $72.7 million to the four PSF licencees.
PSF licensed fund managers
Fund managers have ten-year licences and have been selected for their skills and experience in managing venture capital investments and raising private capital. They are responsible for all investment decisions, which are made on a commercial basis in accordance with their own investment practices, subject to the PSF program guidelines.
|
Fund manager |
Capital Commitment ($m) |
|
Allen & Buckeridge Asset Management Ltd |
20.8 |
|
GBS Venture Partners Ltd (formerly Rothschild Bioscience Managers) |
30.0 |
|
Starfish Ventures Ltd |
24.0 |
|
SciVentures Investments Pty Ltd |
29.3 |
|
Total |
104.1 |
Program operational details
Current results and details on both the PSF and licensed managers can be found at the AusIndustry PSF site
For details on other government venture capital support programs please see the Venture Capital and Commercialisation fact sheet.
Further information
Policy Issues
Tricia Berman
Innovation Policy Branch
Phone: +61-2-6213 7444
email
Web: www.innovation.gov.au
Operational Issues
Phone: AusIndustry hotline, 13 28 46
email
Web: www.innovation.gov.au/innovation
Web: www.ausindustry.gov.au