October 18-20 | Tucson, AZ

The Research Institution GAP Fund and Accelerator Program Summit

New Uniquest $1.5M fund to support incubator graduates

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October 18-20, 2023 / Tucson, AZ
The annual summit for research institution gap fund and accelerator programs, including proof of concept programs, startup accelerators, and university venture funds

The Story

The University of Queensland’s commercialisation company, UniQuest, has partnered with investor Artesian Venture Partners to build a $1.5 million investment fund to invest in graduates from the university’s ilab technology incubator.

UniQuest chief executive Dean Moss says in a statement the Accelerate Investment Fund will provide private investors an opportunity to invest in several early stage start-ups emerging through ilab.

The statement says Artesian Venture Partners has committed to raising a majority of the $1.5 million fund and will be both investing in the fund itself and inviting private investors to participate.

“ilab is the premium start-up lab in Queensland,” Jeremy Colless, Artesian’s managing principal, told StartupSmart, noting that Queensland was “crying out” for more support in the tech start-up space.

He says the fund will support start-up graduates from ilab in the early funding stage and, potentially, later rounds as well, taking a direct equity stake in the companies.

The new investor fund comes as the Queensland government approves $1 million in funding over the next two years for ilab’s three-month Germinate programs that offer training, mentoring, networking, office space and up to $20,000.

Over the past two years, Germinate has invested almost $300,000 in 19 new enterprises and a further 17 companies have been supported by ilab resources and mentors.

Participants in the Germinate program have included Tiger Temple, an online street style clothing store, Veilability, a venue matching service for the bridal industry and Fizziofit, which delivers exercise, medicine and fitness technology resources for healthcare professionals.

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