ITR spin-off secures $2m in funding
Cohda Wireless, a spin off company originating from UniSA’s Institute for Telecommunications Research, has secured $2 million in federal government funding to fast track the commercialisation of 4G wireless communications technology.
Cohda Wireless CEO Peter Harriss said the funding would support prototype development of the technology to be ready for pilot trials with Australian and US public transport and public safety agencies by mid 2005.
Potential applications for the technology include video security, advanced passenger information systems, advertising and wireless internet connection on public transport, as well as real-time video links for emergency response vehicles.
Harriss said Cohda’s technology offered increased communications range, data throughput and mobility for mobile wireless users.
“We aim to launch our product where the full range of cost, bandwidth and mobility benefits will be realised. The overseas market potential for this technology is enormous,” he said.
“When fully developed, Cohda’s new communications technology will incorporate advanced signal-processing techniques developed by the world-class Institute for Telecommunications Research located at the University of South Australia’s Mawson Lakes campus”.
Funding has been sourced through a combination of an AusIndustry R&D Start Grant, and pre-seed funding from SciVentures Investments and the University of South Australia’s commercialisation company ITEK.
Recognising the commercial potential of the intellectual property, ITEK funded initial proof-of-concept testing and managed the required fundraising and transition of Cohda Wireless into a stand alone spin-off company.
ITEK’s managing director Mark Hender said Cohda was a strong example of the “high global potential of home-grown technology’’.
“This substantial investment will also position the company to attract next round commercialisation funding and to engage commercial partners,” he said.
SciVentures investments director Dr Greg Smith said Cohda had presented a compelling case for investment.
“It was the potential of the business case, combined with the technical, management and commercial expertise of the entire team that led to our decision,’’ Dr Smith said. ‘We are excited to be involved in the development of this new technology which has outstanding potential in global markets.’’