University of Tartu to establish an intellectual property investment company UniTartu Ventures OÜ
On 30 November, the council of the University of Tartu (UT) decided to establish the company UniTartu Ventures OÜ, adding an opportunity to direct the intellectual property created by UT researchers to research- and technology-intensive companies.
One objective of the University of Tartu is to be the accelerator of smart economy in Estonia. This also means that the university is more actively participating in the creation of new high-tech companies. The need for a new company mainly resulted from the success and rapid development of the Institute of Genomics, institutes of the Faculty of Science and Technology, the university’s Feasibility Fund and the university’s spin-off programme in recent years.
The university-owned intellectual property to be invested in growing enterprises via UniTartu Ventures may include, for instance, data, research findings or patents. In addition to emerging companies stemming from the university, UniTartu Ventures can also cooperate with other Estonian or international technology companies that are in the early stage and need the intellectual property created at the university to develop.
The establishment of UniTartu Ventures OÜ was advised in cooperation with Civitta by Ellex team in Estonia: Counsel Antti Perli, Managing Partner Ants Nõmper and Tax Counsel Dmitri Rozenblat.