IP Group news 0

• Appoints high-profile steering group

IP Group, the developer of intellectual property based businesses, announced today it had made its first investments in Australia, totalling more than $4.5 million.

The company has also opened a new head office in Melbourne, which currently employs nine specialist staff, as well as appointing a high-profile steering group, comprising John Akehurst, Chris Roberts, and Mark Burgess.

The Managing Director of IP Group’s Australian operations, Michael Molinari, said the company is investing in technology that has the potential to have a positive impact on the world and in the process, improve the economic and social wellbeing of Australia.

“Our first investments into the commercialisation of Australian university research cover a number of industries, including IT networking technology, healthcare, 3D printing, and electric aviation,” Mr Molinari said.

He said one of the investments made to date involved investing in Canopus Networks, which applies machine learning to shape traffic flows in telecommunications networks, reducing overall bandwidth requirements.

“We will typically invest smaller amounts of money early in the development of each company as we generate proof-of-concept and develop products. We then back the winners with significant amounts of capital over time.”

Referring to the new steering group, Mr Molinari added: “We are excited to have people of the calibre of John, Chris and Mark on our steering group, as they bring a wealth of experience and connections to the team, and to our portfolio companies.”

IP Group has signed agreements to help commercialise research with the Group of Eight universities - The University of Adelaide, Australian National University, University of Melbourne, Monash University, UNSW, University of Queensland, University of Sydney, University of Western Australia – as well as the University of Auckland.

The investments are part of a commitment by IP Group to invest more than $200 million over the next decade in world-changing technologies developed by Australian and New Zealand universities.

Media inquiries: Lucy Wigney (Cannings Strategic Communications) +61 2 8284 9923