The University of Queensland’s commercialisation arm, UniQuest Pty Ltd, is running its annual innovation competition, Trailblazer, for the third consecutive year offering $40,000 in prize money.
The competition was established in 2003 to encourage original ideas and early stage research as well as reward UQ researchers and students across all disciplines.
An exciting outcome of the competition has been the funding and promotion of research with commercial potential, according to UniQuest Managing Director, David Henderson.
“One of the winners from our inaugural Trailblazer event used the prize money to fund basic research based on her concept for a new pharmaceutical therapeutic. The results were extremely promising and we’re now negotiating a multi-million dollar investment into this project,” said Mr Henderson.
In the two years the competition has run, UniQuest has received almost 200 new invention disclosures.
From these entries, two start-up companies were created, Neurotide Pty Ltd and Hydrexia Pty Ltd to commercialise a neuropathic pain treatment and hydrogen storage technology respectively, and UniQuest is actively working with another six research groups.
Additionally, Trailblazer has been instrumental in fostering innovation and culture change among UQ researchers, according to Mr Henderson.
“There has been a palpable shift in attitudes towards commercialisation at UQ and if Trailblazer can continue to excite researchers and stimulate new and innovative concepts, it is achieving everything we wanted from it,” said Mr Henderson.
The University of Wollongong is also rolling out a similar Trailblazer competition on its campus in collaboration with UniQuest.
Further information: Julia Renaud, Communication Manager, UniQuest. Ph: 07.3365 4037, Mobile: 0438 436 179, Email:j.renaud@uniquest.com.au or visit www.uniquest.com.au/trailblazer
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