Event Details - ITEK - The Commercialisation Company of the University of South Australia
ITEK Open Day 2008
UniSA’s commercialisation arm ITEK is in the business of taking some of the sweat out of the whole process of turning brilliant ideas into brilliant products, services or technologies.
ITEK Pty Ltd, recently invited research students and staff to attend their first ITEK Open Day 2008 event held in October at Mawson Lakes Campus and in November at City East Campus to introduce Intellectual Property Management, Research Commercialisation, Investment Management and Patent Law to those interested in taking their research to the next level. Those who attended were entered into the draw to win a $100 Westfield Gift Voucher.
More than 85 researchers attended the days which included guest speakers Adele Flego from Madderns Patent and Trade Mark Attorneys, Jeff Holman from Phillips, Ormonde and Fitzpatrick Attorneys and Roger Coats, Investment Manager from the Trans Tasman Commercialisation Fund. Winners from the draw were Shir Ley Tan from the School of Pharmacy and Medical Sciences and Brian Kirke from the School of Information Technology, Engineering and the Environment.
Acting CEO, Bruce Linn says the event was designed to raise awareness about the services and support ITEK can provide to research staff and students at UniSA. “We plan to hold these events again in 2009 – it is often opportunities like this that spark some of the greatest success stories. We have shown researchers what is possible, what it takes to get there, and most importantly that they will have our continued support in developing their bright ideas.”
Research Workshops
Included free : Note book & pen • Morning Tea • Certificate of Attendance
Where: ITEK Pty Ltd, ML Campus, Building P, Level 1, Rm 48
Time: 10am to 11am
25 February Intellectual Property Guide
29 April Commercialisation & Funding
24 June Intellectual Property Guide
26 August Research Commercialisation & Funding
28 October Intellectual Property Guide
25 November Research Commercialisation & Funding
Intellectual Property Guide
Presented by Adele Flego, Patent Attorney from Madderns
Prospect and Protect: How to make the most of your IP
Research Commercialisation & Funding
Presented by Chris Hill, Commercialisation Manager
Sourcing funds for prototype and concept development: NEW! Trans Tasman Commercialisation Fund, ITEK Catalyst Fund and overview of the commercialisation process.
Research In The Real World
This publication has been produced by the Australian Research Council to showcase examples of Australian research that are making a difference to our lives.
Technology funding
$30 million over 5 years
This collaborative venture aims to capture university research & take it towards commercialisation, creating successful spin out companies that in turn create economic opportunities, competitiveness and growth regionally and nationally. The Fund provides a new source of pre-seed capital to support agreed projects from inception to the point where they can be commercialised. The participating Institutions include: The University of Auckland, Monash University, Flinders University, University of South Australia and The University of Adelaide
ITEK revamps website to start path to success
After a three-month redesign process, the relaunched website delivers fresh insights on how to turn leading-edge research into a business that generates commercial returns for researchers, investors and the university.
ITEK’s marketing coordinator and web designer worked closely together to produce a stylish design with an easy-to-view and use layout that provides access to a comprehensive information resource.
The renovated website contains a detailed section that answers common questions about commercialising research, including the protection of Intellectual Property, the commercialisation process itself and options for funding.
As well as providing an overview of ITEK services and introducing its management team, led by newly appointed CEO Graham Smith, the website profiles the company’s technology portfolio of investment opportunities and success stories from its commercialisation activities.
The website also contains an index of ITEK’s latest news announcements and a calendar of forthcoming events, workshops and seminars.
ITEK delivers $800,000 return to UniSA
UniSA’s technology transfer arm ITEK has delivered an $800,000 dividend to the university, earned from its investment and licensing activities during 2008.
ITEK CEO Graham Smith presented a cheque for the dividend to UniSA Vice Chancellor Peter Hoj, who said the funds would be used to assist further research activities within the University. ITEK’s 2008 dividend brings the company’s total contribution to UniSA during the past five years to nearly $5 million, a powerful performance that distinguishes ITEK as one of the most profitable technology transfer offices in Australia.
A core focus of ITEK is its ability to identify and develop research from the University of South Australia that can contribute to the innovation, vitality and job-building capacity of industry within South Australia and nationally. Mr. Smith said: “ITEK engages with both university researchers and industry executives, to help shape the research effort, to identify industry requirements and to nurture potential investors as we recognise market opportunities”.
During 2008, ITEK generated revenue through a range of activities including investment dividends, royalties from licensing agreements and capital gains from the sale of its investments. As well as revenue from its fully-owned subsidiary GTA, ITEK’s earnings came from the sale of a company it had invested in to a multinational organisation. It also received royalty streams from licensing agreements in the areas of water treatment, water purification and pollution treatment technology.
Welcome New Chairman
UniSA's commercial arm, ITEK, has recently welcomed John Grace as its new Chairman, bringing extensive experience in the commercial development of leading-edge science, specifically biotechnology.
He is currently the director of iBIO Pty Ltd Consultancy, providing advice to clients in research commercialisation particularly in the biotechnology industry. He is also a member of the Council of the Australian Institute of Marine Science and a Vice President of the Academy of Technological Sciences and Engineering.
He says he is looking forward to being part of the ITEK and UniSA team.
"The University of South Australia is a dynamic organisation and ITEK is one of the few successful commercialisation companies of Australian universities," he said.
"The translation of research by commercial routes is a legitimate and important way by which the benefit of university research can be delivered to the community.
"The translation role is the essence of ITEK and an area in which I have a very strong interest. I am pleased to be a part of a dynamic team, which in the coming years should further substantiate its strong position under the leadership of its CEO Graham Smith."
The new appointment follows the retirement of former Chairman Kevin O'Brien. There are currently seven ITEK board members, with two-year appointments. ITEK is UniSA's commercial arm and is responsible for developing commercial opportunities from research that is undertaken by the University.
$2.52 Million Deal for CPR Pharma Services
CPR Pharma Services Pty Ltd, a spin-out from the University of South Australia, commenced trading in April 2009 after attracting funding of $2.5m from Terra Rossa Capital, ITEK Pty Ltd, and the South Australian Innovation and Investment Fund.
CPR was founded by UniSA in 1996 as the Centre for Pharmaceutical Research undertaking research activities as part of the School of Pharmacy and Medical Sciences. As CPR's activities expanded with an increasing focus on consulting services, a decision was made to spin-out the business to attract new investment and facilitate further growth.
Located at the BioSA Incubator, CPR employs 32 staff and offers specialised services supporting drug development for the biotechnology and pharmaceutical industries.
CPR is unique in Australia. Its services combine bioanalytical capability with clinical services including data management and the monitoring of studies. Its core clients are Australian biotechnology companies and global pharmaceutical companies attracted to the advantages of conducting drug development in Australia's rigorous yet accessible regulatory environment.
CEO Jason Valentine said the new investment provided CPR with capital for vital infrastructure and business expansion. "Raising this capital in the current global economic environment is a particular achievement and is testimony to the efforts of all involved," he said.
ITEK expects the company to create 26 new positions over coming years, targeting fresh graduates from pharmaceutical science, pharmacology and forensic science backgrounds in South Australia. CPR has also purchased and commissioned two mass spectrometers, equipping the company to supply unmet needs in the bioscience sector.
Mr Valentine said one of these spectrometers was the only instrument of its kind available in the Asia Pacific region. "The new equipment gives CPR's Bioanalytical Laboratory a clear competitive advantage in terms of capacity and technical capability," he said.
"My vision for the company is to become a significant CRO (Clinical Research Organisation) in the Asia Pacific region."
For more information on CPR Pharma Services, visit www.cprservices.com.au
ITEK shines light on path to entrepreneurship
UniSA commercialisation agency ITEK actively assists students to gain an insight into the opportunities and challenges of pursuing the path of entrepreneurship.
Key ITEK executives recently joined serial entrepreneurs and patent attorneys to present a lecture in the course called ‘Professional Studies', which involves professionals addressing students about real-life career experiences drawn from the process of commercialisation.
UniSA City West Campus lecturer Gerhard Schurer designed the course to assist students make the challenging transition from university life to a professional career.
ITEK General Manager Chris Hill discussed the process of protecting intellectual property ownership and outlined how students should go about protecting their valuable ideas - now and in the future.
"ITEK can assist students and staff in the identification of ideas, provide a comprehensive assessment of the market and define business and financial strategies for moving through the stages of the commericalisation process," explained Mr. Hill.
Madderns Registered Patent and Trademarks Attorney Ms. Adele Flego explained that the various forms of intellectual property made it important to obtain professional advice to protect intellectual property.
"Securing intellectual property rights early in the commercialisation process may contribute to a project's attractiveness to further investment," said Ms. Flego.
ITEK Commercial Project Manager Dr Stephanie Agius went on to outline what investors were looking for when they assessed technology-related deals. "As an entrepreneur and inventor, you need to target the type of investor you approach for financial investment," said Dr. Agius.
"Different types of investors will fund different stages of technology commercialisation depending on the risk and retrospective reward. For example, venture capitalists won't fund early stage technology whereas technology transfer offices including ITEK in addition to Government funding can bridge this gap."
ITEK maintains professional relationships with a variety of external consultants including Patent and Trademarks Attorneys, business angels, venture capitalists and entrepreneurs to facilitate access to various sources of funding and provide valuable strategic advice during the stages of technology commercialisation.
Access to these valuable resources enables ITEK to bridge the gap in funding between start-up and fast growth phases for businesses.
By providing sound commercial advice, ITEK assists University of South Australia staff and students to make well-informed decisions about how technology commercialisation can add value to their publications, research and professional development.