UniSuper has committed $75 million to Uniseed to cover existing projects as well as new developments in industries of the future such as biotechnology, pharmaceuticals, quantum computing and green energy.

In a statement confirming the transaction on Thursday, the $106 billion fund said the funds would be a critical contribution to the commercialization of university research and the growth of Australian start-ups.

“This is an excellent opportunity for UniSuper to be actively involved in the development and commercialization of research and technologies that will shape the future,” said UniSuper Chief Investment Officer John Pearce.

“We look forward to seeing this investment flourish and grow over time.”

Uniseed was established in 2000. and is now owned by the Universities of Melbourne, Queensland, Sydney, NSW and CSIRO. It provides seed funding for research and early-stage technologies developed by the five partners.

Uniseed CEO Peter Devine said UniSuper’s investment would unlock more engagement with Australia’s growing innovation and start-up sector.

“UniSuper is one of Australia’s largest and most respected and innovative super funds and the capital it has at its disposal will go a long way to ensuring we can take advantage of the opportunities provided by the brilliant minds at Australia’s best research organizations Dr. Devine said.

“This is another step Uniseed is taking to facilitate the commercialization of Australian research. Today’s emerging start-ups are tomorrow’s tech and healthcare giants, and with funding from UniSuper we are able to enter the very early stages of these journeys.”

Maja Garatsa Djurdjevic

Maya’s career in journalism spans more than a decade in finance, business and politics. Already an experienced editor and reporter in all elements of the financial services sector, before joining Momentum Media, Maya reported for several established news outlets in South East Europe, looking at key processes in post-conflict societies.