Marcus Butler
13 March 2015
University of Canberra researchers will be able to access funding to assist them in turning their discoveries into profitable business ventures with the launch of the Discovery Translation Fund 2.0 (DTF2.0).
The fund is a jointly funded program between the University of Canberra and The Australian National University and will have a total funding pool of $3 million over three years.
Researchers from the University will have access to funding worth up to $50,000, to assist them in capitalising on discoveries with potential for commercialization and turning them to real-world applications.
The original version of DTF operated between 2011 and 2014 and assisted more than 30 projects in taking work from the lab to the world, including discoveries by University of Canberra researchers.
Previous projects included associate professor Sudha Rao's work on therapeutics targeting breast cancer recurrence and associate professor Ashraf Ghanem's research into unique Australian bacterial thermo-stable biocatalysts.
University of Canberra Deputy Vice-Chancellor (Research) Professor Frances Shannon said the program is a great opportunity for those who are thinking about making the most of their research through a commercial venture.
"Many researchers reach a point after making their discovery where they need some assistance in taking the next big step. DTF2.0 will set them on the right path, giving them some much needed financial assistance and hopefully making all the difference between great research and a viable business venture," Professor Shannon said.
DTF2.0 funding is conditional and researchers are required to identify and adhere to specific milestones as they work to make their discovery a commercial reality.
Dr Rao said the milestones set out a series of targets to develop the project and keep the entire enterprise on track.
"I have always seen my work targeting cancer recurrence as going from bench to bedside, having funding which helps make the leap from one space to the other will deliver better health outcomes for cancer survivors.
DTF2.0 funding grants are awarded competitively, must have identifiable commercial potential and be completed within 12 to 18 months.
The funding program is managed by ANU Connect Ventures.
Expressions of interest are now being sought for the first round of funding through the UC Research Services Office
