Deep Tech - an ecosystem directory
A collection of who and what is going on in the Australian deep tech ecosystem
There is more happening in the Australian region around deep tech than you might think. Instead of an interview, this time I’m sharing a list of the players in the local deep tech investment ecosystem that I’m aware of. I’m definitely going to miss some, so please let me know who I should have added here, and I’ll fix it up in a later version. (This article will likely get a bit on the long side for an email, so it is best to read it as the web version. There’s a lot happening in Australia!)
Government funds
These tend to not be specifically deep tech, but often aim to ensure innovation gets sufficient capital to stay in/come to the state, and hence are well-suited to deep tech.
Breakthrough Victoria provides a range of commercial constructs for breakthrough innovations to create positive impact in Victoria and economic returns.
Investment NSW aims to support startups and precincts around growth sectors like manufacturing, defence, space, clean economy, quantum and life sciences.
National Reconstruction Fund (NRF) is still getting established, but will invest to transform national industry capability in many areas relevant to deep tech.
QIC is a long-horizon investor owned by the state of Queensland.
South Australian Venture Capital Fund (SAVCF) is operated by Artesian and has an interest in startups in space, biotech, agrifood and others.
Venture-style funds that focus on deep tech
These funds tend to explicitly mention deep or frontier tech, or focus on a sector that requires deep tech solutions, e.g. climate tech, health tech.
Artesian operates a number of funds, with many having a deep tech flavour.
Blackbird invests in ambitious founders, and has a frontier tech investment team, having invested in deep tech startups such as PsiQuantum and Vessev.
Brandon Capital Partners invests in life sciences startups.
Fund WA invests in high-growth startups from W.A., most of which are deep tech.
GBS Ventures invests in life science technology companies.
Investible backs early stage tech startups.
IP Group Australia is the local arm of a UK firm and partners with the Group of 8 Universities to commercialise research.
Jekara Group focuses on cleantech, including hardware-enabled technologies.
Kosmos Ventures specialises on digital/blockchain startups.
Main Sequence Ventures was founded by CSIRO and specialises in deep tech startups.
Mandalay Venture Partners invests in agrifood tech startups.
Pacific Channel is a NZ-based deep tech investor that has announced plans to expand to Australia.
Pollination is investing in climate tech solutions.
Possible Ventures backs startups using frontier technologies including deep tech.
Salus Ventures is interested in startups with disruptive technological capability.
Significant Capital Ventures was founded by ANU and Hindmarsh with a focus on early stage deep tech.
Stoic VC focuses on emerging science and engineering startups.
Tenacious Ventures focuses on agtech and cleantech startups.
Uniseed is backed by UniSuper, CSIRO and many Universities, and invests in startups led by researchers from its partner organisations.
Virescent Ventures focuses on climate tech startups.
Venture-style funds that include deep tech as part of their portfolio
Some Australian funds are interested in backing deep tech startups as part of their portfolio mix.
Archangel Ventures has backed deep tech startups such as Emesent and Millibeam.
Carthona Capital has supported deep tech companies such as Daedalean and Zero Latency.
Flying Fox Ventures has invested in deep tech companies such as Contactile and Goterra.
Galileo Ventures has backed deep tech companies by emerging founders like Andromeda and Kite Magnetics.
Giant Leap focuses on climate, health and education startups, and has backed deep tech companies such as Evrnu and Swoop Aero.
OIF Ventures invested in early-stage startups including deep tech companies like Advanced Navigation and Visionary Machines.
OneVentures has invested in deep tech companies like Vaxxas and XY Sense.
Rampsersand has invested in deep tech startups like Goterra and Quantum Brilliance
Skip Capital has suported deep tech startups like August Robotics and Morse Micro.
Sprint has backed deep tech startups like Leakster and Umps.
Square Peg has invested in deep tech companies like Q-CTRL and Vow.
Titanium Ventures invests in growth-stage startups, and has backed deep tech startups like Cohere Technologies and Samsara Eco.
University funds and programs
Most of the larger Universities have startup/entrepreneurial programs, and while UniSeed is supported by many Universities, there are a few with their own funds as well. The startup programs are often generic, but are skewed towards commercialising research ideas coming out of the Universities, so lend themselves to deep tech. There’s a longer, slightly out-of-date list at Universities Australia.
ANU supports the Canberra Innovation Network programs.
Charles Darwin University supports the Darwin Innovation Hub.
Flinders University offers a range of programs at their New Ventures Institute.
QUT provides the Innovation Area EXECUTE! program.
The University of Adelaide, under ThincLab, runs startups programs, the ThincSeed accelerator and also has a fund.
The University of Melbourne runs a range of programs such as TRAM and MAP, and the Genesis and Tin Alley Ventures funds.
The University of Newcastle runs incubation/acceleration programs called I2N. and has a seed fund in collaboration with the University of Waikato.
The Macquarie University Incubator (MQi).
The University of Sydney runs the INCUBATE program.
The University of Western Australia has a student-run program.
The University of Wollongong runs the iAccelerate program and seed fund.
The University of South Australia has a research commercialisation program, as well as their Venture Catalyst programs.
UNSW runs the UNSW Founders program.
UTS provides Startups Growth Program funding.
UQ offers a range of programs and the UniQuest Extension Fund.
Angel syndicates
There are likely to be many more angel syndicates than these, but angel syndicates tend not to less prominent than venture capital funds.
Club Investible invests as part of the Investible venture deals.
Curtin Angel Syndicate invests in startups out of the Curtin University programs.
Ecotone Ventures focuses on climate technologies.
Electrifi Ventures invests in early stage climate technologies.
Medical Angels invests in healthcare innovations.
Startup programs (accelerators, incubators, venture studios, etc.)
This section captures a range of organisations that provide services and development opportunities beyond providing capital to deep tech startups.
Antler invests from “day 0”, helping to pull a team around an idea, and has supported some deep tech startups like Enaxiom and Xalient.
Beanstalk Venture Studio develops startups helping to address drought issues.
Cicada Innovations is an incubator for deep tech startups.
CSIRO has a number of programs for startups and small businesses and the ON Innovation programs including the ON Prime and ON Accelerate programs.
Creative Destruction Lab-Melbourne helps grow science-based technology companies.
MedTech Actuator supports healthtech startups.
Rocket Seeder supports startups in the agrifood sector.
Skalata has developed and invested in deep tech startups such as Monty Compost and Smart Paddock.
Key Events
In addition to these annual events, there is also a range of smaller, deep-tech oriented event series in different cities.
ON Core, CSIRO’s annual deep tech innovators event.
SXSW Sydney, while not only about deep tech, has a strong deep tech focus in the Tech & Innovation stream, with Main Sequence being a main sponsor in 2023.
Tech23, now run by Cicada, is an annual showcase for 23 promising deep tech startups.