A cohort of 10 teams have been chosen by national science agency CSIRO to be given the opportunity to develop their high-potential innovative ventures through the ON Accelerate program.
“As the national science agency, CSIRO solves Australia’s greatest challenges with science, and there is no greater challenge than our innovation dilemma – solve that and we can solve anything,” CSIRO Chief Executive Larry Marshall said. “CSIRO’s ON Program has become a world-leading innovation catalyst because it inspires Australia’s scientists to turn their science into real world solutions for our greatest challenges.
“ON recognises that innovation thrives on diversity and doing things differently. When you redefine old school paradigms of leadership, you can drive financial performance and reinvent industries,” Marshall added. “Since the ON Program began in 2015, 66 new companies have been formed, raising more than $110m in investment capital and creating more than 500 jobs. I’m excited about the potential for this cohort to continue to create the new industries Australia needs to thrive in our innovative future,” he added.
The 10 teams moving to the next stage of ON Accelerate are:
- DHI, from Monash University, is harnessing AI to improve regulation technology to better detect and report discrepancies of listed companies’ disclosures.
- Green Shield, also from Monash University, offers materials that are providing unique solutions for object camouflage, including radio frequency shielding.
- v2Algae, from University of Technology Sydney, is creating a new biotechnology specialty ingredient manufacturing segment for Australia.
- Rainstick, from northern Queensland , is combining indigenous knowledge systems and modern electrokinetics to encourage fungi and plants’ natural systems to grow faster and increase yield, with researchers at James Cook University working with them.
- SpritzOM, from Telethon Kids Institute, is working to develop a low-cost nasal vaccine to prevent ear infections.
- WEHI Application Development team – has developed an information system to manage animals in research environments, helping organisations working with animals improve their ethical treatment, lower costs, and improve efficiency.
- Thaum, from the ANU Research School of Physics deep-tech incubator Momentum, is commercialising WhalePOD, which is helping offshore industries implement harm mitigation strategies to protect marine mammals.
- Cognitag, from CSIRO, is helping tap into the potential of Internet of Things-connected devices, with the aim of making smart devices even smarter.
- Reduced Sugar Juice team, also from CSIRO, is working on naturally reducing the sugar content of juice drinks by up to 70 per cent without negatively affecting their nutritional value.
- UpCell team, also from CSIRO, has developed process technology for the super-efficient and scalable production of specialised performance proteins in food-appropriate quality, quantity and cost.
The successful teams will undergo an immersion week in early February, before undertaking the full 14-week ON Accelerate program. During the program proper, the teams will be partnered with a curated team of experts and follow an individual development plan, helping to equip them with knowledge on everything they need to know to become a market-ready venture.