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GCI will play an important role in commercialising the Biokenno technology and in developing the business around it.
The (Biokenno) technology has been licensed to the university which will assemble a research group for carrying out further research and identifying opportunities for commercialising the product.
While the program's Business Management stream is slated for launch on July 1, startups seeking assistance will have to wait until the Commercialising Ideas stream of the program is launched which is currently slated for November 1.
VCAL CEO Yasser El-Ansary said the volume of funding offered through the Commercialising Ideas stream of the program is not large enough to 'support commercialisation in any meaningful manner.'
He says while the Business Management stream has funding prospects varying from $20,000 per participant, roughly in line with what was earlier available under the Enterprise Connect program, the funding offered in the Commercialising Ideas stream is much less than that earlier available.
He said : 'In the Commercialising Ideas stream, the maximum amounts available are only 12.4% of the amounts previously available under the Commercialisation Australia program (up to $2 million per participant), and far less than the amounts available through the IIF program (where the government could commit up to $100 million to a licensed fund manager in matched funding) The practical amount needed to support commercialisation activity in any meaningful manner is far in excess of $250,000.
Feedback from the Norwegian parliament from their dealings with the Research notification points out a need for strengthened national coordination of the commercialising activities in the university and university college sector.
evaluates and assesses the extent to which the commercialising apparatus is optimally organised and financed and whether the intentions in the law are fulfilled.
maps the extent and results of commercialising research from publicly financed institutions in a comparative perspective.
If this option is exercised by MannKind, then MannKind would assume responsibility for developing and commercialising products and Tolero would become entitled to receive the milestone payments, royalties and sublicensing revenues specified in the agreement.