UQ has created 100+ Startups with 1000s of Australian jobs
Posted on October 3, 2018
The University of Queensland’s commercialization arm UniQuest has launched more than 100 Startups as well as 1000s of Australian jobs. Professor Peter Høj the President and Vice-Chancellor of UQ said that more than 100 companies have been launched. This is based on the UQ research intellectual property from 1988.
The 100th Australian Startup to be formed was PERKII the startup for the pro-biotic drink.
Professor Peter Høj said that creating 100 plus Australia Startups is a remarkable achievement on the international level. It is something that is unmatched by any other University in Australia, he added.
The startups launched by UniQuest have raised 625 million $ plus, as quoted by the UQ Edu Au. This is for commercializing world-leading UQ products and research. These have stemmed from the UQ technologies that have amassed sales exceeding 16 billion US $.
The latest available public data reveals that UQ is ahead of other Universities in Australia. This is in terms of the creation of the number of Australian Startups and jobs. It is also one among the highest performing offices for transfer of technology globally.
Dr. Dean Moss the CEO of UQ said that this is a very clear message to businesses across the world. It is that UQ and Queensland are great places. This is for accessing and investing quality research that delivers true impact, he added.
PERKII is just one among the several successful Australian Startups launched by the UQ in last 3 decades, said Dr. Moss. The commercial rate of success of UQ ventures contradict the usual thumb rule that 90% of startups fail, he added.
It is s matter of pride that the success rate for UQ Startups is comparatively high said the CEO. 46% of these are either operational are have quit the market via commercial transaction like a trade deal, said Dr. Moss.
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