Melbourne Ventures has existing relationships with a wide range of potential candidates for partnering and investment, and we also have extensive networks which can assist in identifying suitable organisations to approach. One such option which inventors at the University of Melbourne can access is Uniseed, a joint-venture pre-seed Venture Capital fund established jointly by the Universities of Melbourne and Queensland. For more information, visit the Uniseed website.

It is important to realise that this process can take time: getting a meeting with a partner or investor is just the first step towards constructing a deal, and getting to final sign-off typically takes several months. For this reason it is important to start this process early, so that you do not find yourself up against looming patent deadlines.

Following the preliminary assessment of a technology, there are 4 possible outcomes.

1. Out-Licensing/Partnering Strategy

Melbourne Ventures advises that an out-licensing/partnering strategy should be pursued with the technology. Melbourne Ventures staff will work with the inventor to develop a commercial proposal that can be put in front of a partner or investor, and also assist with identifying potential partners and/or investors. At this stage it is also important to develop an intellectual property strategy – i.e. a way in which further work can be structured to continue to add value to the original invention.

Licensing is typically a less demanding path to commercialisation and usually has lower risks.

2. Start–up company

Melbourne Ventures advises that the technology is suitable to form the basis of a start-up company. Melbourne Ventures staff will work with the inventor to develop a commercial proposal that can be put in front of a partner or investor, and also assist with identifying potential partners and/or investors. At this stage it is also important to develop an intellectual property strategy – i.e. a way in which further work can be structured to continue to add value to the original invention.

A start-up can offer better rewards, but only at a higher risk, and with higher inventor involvement. The University has produced Guidelines for Involvement with Start-Up Companies.

3. Not yet ready

Melbourne Ventures advises that the technology is not yet ready for commercialisation, but works with the academic to define and execute a plan to bring it closer to the market.

4. Not to proceed

Melbourne Ventures elects not to proceed further with the technology – in which case the inventor is free to take the technology elsewhere for commercial development