6 December 2005

Uniseed has brought the University of New South Wales (UNSW) into its existing partnership between The University of Queensland, the University of Melbourne and Westscheme, Western Australia`s largest private sector superannuation fund.

Under the partnership, Uniseed will work closely with UNSW’s new commercialisation company, New South Innovations Limited (NSi) to invest in technologies from UNSW and its related organisations.

Uniseed was the first specialist pre-seed commercialisation fund for university technology in Australia. UNSW’s commitment of $10 million adds to recent subscription of $16 million from the founding universities, and a $15 million partnership with Westscheme. The fund now has $61m under management, dedicated to commercialisation at its member Universities. It received he award for Best Early Stage Investment for 2005 from the Australian Venture Capital Association (AVCAL).

“We are delighted to bring UNSW into the Uniseed ‘club’, which is now a collaboration between three top tier Australian universities, and one of the country’s leading early stage institutional investors”, said Uniseed’s CEO, Mr Gareth Dando.

“Uniseed has shown an ability to raise the rate of commercialisation, generate significant co-investment through relationships with other venture funds, and facilitate the growth of new companies. We have positioned ourselves as a ‘preferred supplier’ of high quality opportunities to leading venture investors, and look forward to continuing to expand and develop these relationships in New South Wales.

“Having recently passed the fund’s 5th anniversary, we have more than achieved the ambitious goals we originally set. With UNSW and Westscheme joining the fund, and the founding universities extending their commitment, we have established a strong platform from which to build and develop further.

”Uniseed will be an invaluable aid to NSi in its goal of forging closer relationships with academic staff. By assisting NSi in taking projects through the difficult early stages of commercial funding, it will help our innovators to see their work successfully developed", said Professor Les Field, Deputy Vice Chancellor (Research) at UNSW, and Chairman of NSi.

Contacts: Gareth Dando CEO - Uniseed 03 8344 3193 0408 511 835; Les Field Deputy Vice Chancellor (Research), UNSW, and Chairman, New South Innovations 02 9385 2700