ITEK reaps what it sows
by Vincent Ciccarello
ITEK’s investment in technology and intellectual property developed by UniSA has yielded dividends with the sale of satellite communications business DSpace to leading US wireless and satellite communications company, EMS Technologies.
Founded in 1995 by Mark Rice and Jonathan Whalley at UniSA’s Institute for Telecommunication Research (ITR), the company developed advanced satellite systems technology and in 2002 attracted venture capital from Playford Capital, CM Capital and Foundation Capital.
DSpace has been successful in creating multi-user decoding and turbo coding technology for the mobile satellite industry in areas of defence, intelligence and emergency services.
The company will become an operating part of EMS following the $6.75 million sale and remains based at Mawson Lake’s Technology Park.
Itek’s commercial director, Bruce Tilbrook supported the development of the business as a board member.
"DSpace was one of ITEK’s first investments and has been successful in a number of ways," he said.
"Over the years, DSpace has continued to use the University’s research capacity to develop more technology by providing funding of around $800,000 to ITR."
DSpace is the first sale of 10 early stage businesses in which Itek has invested some $2.5 million covering material sciences, health sciences and technology as part of UniSA’s commitment to taking University technology from the laboratory to the marketplace.
ITEK’s Commercialisation Manager, Greg Macpherson said early stage business development is a complex and time consuming process.
"The sale of an investment such as DSpace demonstrates our ability to grow businesses out of good ideas and research," he said.