Page 3936 - Week 12 - Thursday, 23 November 2006
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(1) The construction of new capital facilities for the School of Health Sciences at the University of Canberra commenced in February 2006. It is expected to be completed for handover in December 2006 with the first students using the new facility in semester 1 2007.
(2) Not applicable.
Finance—venture capital fund
(Question No 1291)
Mr Smyth asked the Minister for Business and Economic Development, upon notice, on 21 September 2006:
(1) In relation to Action 39 in the Economic White Paper, what has been the outcome of the establishment of the venture capital fund that is being managed by the Australian National University (ANU) and the Motor Trades Association of Australia;
(2) What has been the source of potential commercialisation projects for this fund;
(3) Have any potential projects been sourced from outside the ANU; if so, what has been the source of these projects; if not, why not.
Mr Stanhope: The answer to the member’s question is as follows:
(1) The ACT Government has provided a repayable grant of $10 million to the Australian National University (ANU) for investment alongside private sector capital in a new joint venture ANU MTAA Super Venture Capital Partnership. This Partnership is the first dedicated ACT based commercialisation fund for investment in pre-seed, seed and start-up venture capital. The transaction involves MTAA Super investing $20 million, the ANU providing its intellectual property (IP) assets and the ACT Government grant of $10 million. This provides a total fund of $30 million for investment in pre-seed, seed and start-up venture capital. The Partnership established in 2005 a company (ANU Connect Pty Ltd) operating out of the Epicorp Offices in Clunies Ross Drive. The company has reviewed approximately 30 opportunities.
(2) I understand that approximately 45% of the opportunities that have been or are currently under review involve ANU concepts, another 10% involve ANU concepts in combination with technology from other organisations, and the remaining 45% to not involve ANU concepts.
(3) I have been advised that several promising investment opportunities are projects including both ANU and non-ANU technology. A number of non-ANU projects are also being examined by the Partnership’s Investment Committee.
Intellectual property—management policies
(Question No 1292)
Mr Smyth asked the Minister for Business and Economic Development, upon notice, on 21 September 2006:
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