The South Australia Company
The concept of the South Australia Company was different from most other colony settlement strategies of the time. Private capital was raised through the South Australia Company with the aim of building a self-sustaining colony. Labour was to be provided by free immigrant labour (as opposed to convict labour, bonded servants or slaves). The manner of distributing land is outlined on the Wakefield Scheme link below.
I have included the link to a Wikipedia page on George Fife Angus, who was one of the original board commissioners, as this is one of the most comprehenisive sources I can find on those foundation commissioners. He was also a significant figure in the history of Education in South Australia. The following quote from that page is worth noting to grasp something of the founding culture of the colony:
His own views on systematic colonisation dealt with the exclusion of convicts, concentration of settlers, sending out (preferably religious) intelligent people with capital, the emigration of young couples of good character, free trade, free government, and freedom of religion.
External links:
The South Australia Association
Angas (George Fife)