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July 29th 2021

Grey innovation calls for investors in new Venture Fund

Grey innovation calls for investors in new Venture Fund

July 29th 2021

Grey innovation calls for investors in new Venture Fund

Commercialisation business Grey Innovation has announced an Early Stage Venture Capital Limited Partnership (ESVCLP) fund.

Grey Innovation Ventures was “decreasing the traditional risk” involved in the ESVCLP model and “by investing in sophisticated start-up companies. With first market access to Grey Innovation Group’s suite of companies in, or approaching early revenue stage, the risk is significantly reduced,” the new company said on Linkedin on Tuesday.

“As an ESVCLP fund, we are uniquely positioned to generate significant tax credits and savings. Unprecedented government funding of over $23 billion is available for the sectors aligning with our portfolio and mandate.”

Grey Innovation Group was founded by Jefferson Harcourt in 1998 and its focus is on commercialising local IP, particularly from universities. Among its businesses is GreyScan, which rapidly detects trace levels of inorganic explosives and is based on separation science originating from University of Tasmania. This technology has more recently been applied to detecting the Sars-Cov-2 virus on surfaces.

In a promotional video, it mentions previous commercialisation successes, and the opportunities in environmental technology and medical technology products.

Grey Innovation was the lead of the notus invasive ventilator program, which delivered 2,000 devices to the National Stockpile in response to the Covid pandemic. 

“Grey Innovation now leads the clarion call for sovereign capability in manufacturing,” the video says.

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Telstra Eureka