One of Australia's leading online entrepreneurs has risen to a groundbreaking grant challenge, pledging $2 million towards the cost of the second stage of the University of Tasmania's Menzies Research Institute Tasmania (Menzies) in Hobart's CBD.

One of Australia's leading online entrepreneurs has risen to a groundbreaking grant challenge, pledging $2 million towards the cost of the second stage of the University of Tasmania's Menzies Research Institute Tasmania (Menzies) in Hobart's CBD.

The founder of the travel website wotif.com, Graeme Wood, today announced the donation in response to a challenge grant from The Atlantic Philanthropies, the foundation established by the Irish-American philanthropist Chuck Feeney.

The $58 million first stage of Menzies was opened in 2009. Atlantic was a major contributor to that project with a $7.5 million gift.

The second stage of Menzies will cost an estimated $90 million, with the Commonwealth Government contributing $45 million via the Health and Hospitals Fund, the University of Tasmania $15 million, with Atlantic Philanthropies committing $10m already matched by $10m from the State Government.  The challenge from Atlantic is for the University, with Atlantic's support, to raise an additional $5 million from Australian philanthropists, with the State Government promising to match up to another $5 million on a dollar-for-dollar basis.

Stage II will transform the site into a comprehensive medical research precinct with a world-class biomedical and clinical research facility. A six-storey building with a 250-seat lecture theatre and a basement car park, it will allow Menzies to accommodate 500 staff and research students, a 40 per cent increase on current numbers.

The challenge grant is part of Atlantic's Giving While Living Networks initiative, the Australian launch of which is in Tasmania. The Giving While Living Networks are state and territory-based and aimed at bringing organisations, governments at all levels and philanthropists together to fund large-scale projects that otherwise might not be affordable.

Today's announcement was made by Mr Wood during a visit to Menzies Research Institute Tasmania, accompanied by the Vice-Chancellor of UTAS, Professor Peter Rathjen, and the Director of Menzies, Professor Simon Foote.

Professor Rathjen welcomed the announcement of Mr Wood's donation and the launch of the Giving While Living Networks initiative in Tasmania.

"It is fantastic to see the example of giving being set by generous benefactors such as Graeme and The Atlantic Philanthropies. The launch of the Giving While Living Networks - Tasmania initiative can only accelerate this welcome shift towards philanthropic support for medical research," he said.

Mr Wood said: "I'm proud to be supporting world-class medical research through this project. Stage II of Menzies is important as it will add to the vibrancy of the strong medical and scientific research community that already exists in Tasmania."

This is the first time in the world that Atlantic's founder, the 80-year-old Mr Feeney, has gone 'on the road' to help an organisation raise money from other philanthropists. According to Dr David Kennedy, Atlantic's Australian executive: "In the past, Chuck has had discussions with premiers or a prime minister on behalf of a grantee, but this is the first time he's ever sat down with other millionaires and billionaires to talk about the personal joys and societal benefits of collaborative giving for a specific project.''

For more information on Menzies' capital campaign, or the Giving While Living Networks - Tasmania initiative, please contact Mr Mark Bennett, Chief Executive Officer, University of Tasmania Foundation; 03 6226 1938; Mark.Bennett@utas.edu.au

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