The Evergreen Fund is aimed at maturing opportunities in the pre-commercial or commercial phase of a project's life. The fund plays a critical role in successfully transferring research outputs to achieve impact. It is not operated as a separate legal entity from UCT, so any equity received in return for investment will be held by UCT.
Amounts of up to R6m can be invested in a UCT spin-off company and often this investment is further leveraged through other local and foreign government programs and/or external co-investors. The investment is typically made in return for equity, although interest-bearing loans are also possible; the key is that a return is required.
Council approved the use of a donation made by Mr Richard Sonnenberg in 1987 for technology transfer activities, as the nucleus to initiate a self-sustaining ("evergreen") fund that became known as the Evergreen Fund. Following outreach to our alumni, other donations were received from several individuals.
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UCT invites Companies and Donors to cotribute to growing the Evergreen Seed Fund. Donors can take pride in the difference their contribution will make and be assured that all returns from investments made, will be retained by the Fund to invest in further projects. Supporting this initiative, contributors have an opportunity to be an integral part of Innovation and by creating start-up companies and employment opportunities for UCT staff and students.
If you would like to participate in the Alumni & Friends Innovation Network or be kept informed of developments, please download, and return the Alumni and Donors' Response Form.
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The investment decision lies with the UCTs Intellectual Property Advisory Committee (IPAC), as delegated by University Council. IPAC has further invited professionals with aligned backgrounds to constitute an advisory committee, the Private Equity Advisory Group (PAG) to provide independent strategic advice to IPAC on investments.
PAG and IPAC PAG evaluate capital decisions using the following six criteria:
- Commercial viability of the product.
- Ability to raise other funding and future funding needs.
- Company Management.
- Alignment of other investors and shareholders with UCT’s interests and policies.
- Alignment with the goals of UCT: “to make a commercially sustainable positive impact on South Africa and beyond by commercialising patents and “know-how” developed within the University”.
- Risk vs. Return
The Opportunity assessment workflow and investment decision-making process are detailed in the Evergreen Fund Guideline.
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