The College of NSW entrepreneurship program, UNSW Founders, will launch a brand new venture-backed accelerator for deep tech startups centered on artificial biology and biotech with help from the CSIRO’s VC arm, Most important Sequence.
SynBio 10x will run at the side of the RNA Institute and UNSW Faculty of Biotechnology & Biomolecular Sciences. Most important Sequence will make investments $120,000 into every startup within the accelerator program, with the promise that the VC will look to offer additional funding put up program for prime performing startups. UNSW Founders will even make investments an additional $20,000 into every startup within the cohort.
The SynBio program will run in two phases – as a pre-accelerator after which accelerator.
Functions shut on Might 15 this yr. An preliminary 15 groups might be shortlisted for a due diligence part earlier than six startups are chosen and given full-time entry to labs in UNSW’s new $250 million biotechnology facility.
David Burt, head of entrepreneurship at UNSW
UNSW Director of Entrepreneurship David Burt mentioned the SynBio trade has already demonstrated its potential to assist remedy among the world’s greatest issues in meals, agriculture, well being, and drugs.
The CSIRO’s Nationwide Artificial Biology Roadmap estimates the trade might be price $27 billion yearly by 2040.
Burt mentioned SynBio 10x is geared toward serving to Australia faucet into this potential by giving researchers and scientists the capabilities, sources and capital to attain it.
“The most important bottleneck for Australian SynBio startups is a scarcity of entry to the labs and scientific infrastructure that they should do product growth. Lab infrastructure is uncommon and costly and so UNSW will give six of one of the best Australia SynBio startups six months of free entry to the whole lot they should go quick,” he mentioned.
“There’s monumental potential within the SynBio house to assist handle worldwide challenges, however provided that they’ll entry the needed amenities and capital.
“This is the reason we launched SynBio 10x. Constructing on the success of our current 10x accelerator packages, we’ll speed up extra nice Australian startups who can create a optimistic influence with artificial biology.”
Most important Sequence principal Gabrielle Munzer mentioned engineering in biology continues to be largely an untapped house.
“But it surely has the potential to reimagine the way in which we create meals, handle local weather change, discover higher well being outcomes, and past. We simply must construct an ecosystem that helps speed up startups on this house,” she mentioned.
“UNSW has the labs, Australia has the scientific expertise, and with capital to help, we will help reap the complete potential artificial biology affords. We’re proud to be part of SynBio 10x.”
The CSIRO Innovation Funds 1 and a couple of, managed by Most important Sequence, have invested in additional than 40 corporations since 2017. These corporations have created greater than 1,200 jobs, partnering with trade, CSIRO, and 22 Australian universities.
You may lodge an EOI for SynBio 10x right here.
Particulars on the accelerator program are right here.
