The University of Illinois at Chicago launches a $10m to help research cross the valley of death and beyond.

SFS will now be able to make both US dollar offshore and RMB onshore corporate venturing deals having first set up an office in China's capital, Beijing, in 2006.

Tel Aviv University announces $20m commercialisation fund with Tata Industries.

Infosys has previously seen some spin-outs, including VAS firm OnMobile and Yantra Corp, which was acquired by SBC Communications.

The fund will specialise in mobile, internet and software technologies in south-east Asia, Japan and the US.

Lon Cardon, senior vice-president of alternative discovery and development at GSK, said: "The initiative is modeled in part on GSK's successful Discovery Partnerships with Academia (DPAc) program, which now has eight projects underway with universities in the US, Canada and the UK."

GSK will provide company seed funding, research and development support and success-based preclinical and clinical milestones up to a total of $465m for 10 companies.