Abound was founded in 2007 after 15 years of development at Colorado State University and with support from the National Renewable Energy Laboratory and raised $300m of equity over its lifetime.

South Africa-based development agency Industrial Development Corporation reportedly backs a joint venture between the University of Johannesburg's Photovoltaic Technology Intellectual Property company and listed Germany-based renewable energy company Singulus Technologies.

NuMat Technologies, a spin-out from Northwestern University, won a $135,000 prize at the University of Texas.

CSU Ventures, Colorado State's university venturing unit, seals a partnership to commercialise its researhc with The Innovation Center of the Rockies.

Innovacorp has previously invested $550,000 in Seaforth and runs the Early Stage Commercialization Fund (ESCF), Dalhousie University's corporate residency Masters in Business Administration programme.