Incubating new technology in Queensland

UniQuest Pty Limited, The University of Queensland's main technology commercialisation company, has unveiled the University's first formal technology incubator.

The incubator includes office and dry laboratory facilities and is home to two start-up companies that have attracted multi-million dollar investment: Fultec Pty Ltd and QRxPharma Pty Ltd.

The facility, which provides resources to assist the commercialisation of new technologies, also accommodates the Queensland Executive of the Australian biotechnology industry's peak body, AusBiotech Ltd.

UniQuest's Director David Henderson said start-up companies generally occupied such facilities for a period of around 12 months after which they sought more extensive commercial premises.

"The incubator provides an environment mid-way between the laboratory and the commercial world," he said. "It has the benefits of close access to UniQuest resources such as information technology, administration and accounting support and to the wealth of expertise, facilities and equipment at UQ."

QRxPharma was formed to commercialise a package of five health sciences technologies developed at UQ. In October 2002 it secured a $10 million investment deal; believed to be one of the largest ever financing agreements involving an Australian University technology transfer company.

Fultec, which recently received $1 million from the Allen & Buckeridge Emerging Technologies Fund, is commercialising the Transient Blocking Unit (TBU). The TBU is an innovative electronic component designed to protect complex electronic circuits such as high-speed communications interfaces from voltage surges.

Item provided courtesy of The University of Queensland