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La Trobe Uni launches major fund to invest in start-ups

A GROUNDBREAKING invention with the potential to increase production of salad greens while significantly reducing costs has received $1 million from the La Trobe University Eagle Fund, a pre-seed investment program with Breakthrough Victoria to support research with commercial potential.

The Omni-System has been developed by start-up company Gaia Project Australia (GPA) in collaboration with La Trobe researchers from the School of Computing, Engineering and Mathematical Sciences (SCEMS) and the School of Agriculture, Biomedicine and Environment (SABE).

The company’s flagship product is set to revolutionise Controlled Environment Agriculture (CEA), with tests showing it can increase yields of salad greens by up to 40% while significantly reducing both capital and operational expenditure compared to other indoor farming systems. 

Omni-System development demonstrates the opportunity for industry partners to connect with La Trobe’s expertise and intellectual property and advance their concepts through to a commercially viable product, supported by seed investment from Eagle Fund.

Eagle Fund, which was officially launched on March 27, was established in 2023 between La Trobe and Breakthrough Victoria (BV), as part of BV’s $100 million University Innovation Platform.

They have each contributed $9 million to the fund to provide early-stage funding for researchers and start-up companies seeking to commercialise La Trobe intellectual property, particularly those working within areas of digital health, AI, disease detection and treatment and food security and other research strengths.

Through Eagle Fund, La Trobe and BV have co-invested $500,000 each in GPA.

Blood-based diagnostic platform innovation

The fund has also provided $1 million to the university’s second spin-out biotech company, ExCelligent, formed to commercialise technology invented at La Trobe. This investment has been matched by an international industry partner.

ExCelligent has developed a revolutionary blood-based diagnostic platform that enables early and accurate detection of Alzheimer’s, Parkinson’s and other neurodegenerative diseases.

La Trobe vice-chancellor, Theo Farrell said Eagle Fund provided a unique opportunity for investors and industry partners to support La Trobe-backed innovations, gain a competitive edge in key strategic areas, access cutting-edge intellectual property and accelerate research, development and innovation.

“La Trobe University is a leader in world-class research, driving innovation across biotech, Agtech and biomedical sciences and our research institutes are at the forefront of discovery, translating pioneering science into commercial success,” Professor Farrell said.

“The La Trobe University Eagle Fund offers industry partners a valuable opportunity for strategic collaborations that bridge the gap between research and commercialisation, unlocking access to top-tier research, talent and funding opportunities to drive industry growth.

“It also encourages an entrepreneurial mindset for researchers, supporting them to create start-up companies to further their research and innovation for global benefit.”

Omni-System, supported with expertise from La Trobe researchers Dr Alex Stumpf and Adam Console, has received co-investment from Mandalay Venture Partners, LaunchVic and others.

GPA chief executive officer Nadun Hennayaka said, “We have seen first-hand in Australia and abroad the impact of the rising cost of fresh produce during a cost-of-living crisis.

“Our mission is to provide growers with the latest, easily adoptable, cost-efficient technology for sustainable success, by delivering consistent, predictable, highly efficient yields. Ultimately, sustainable and profitable growers lead to a steady supply of affordable, fresh produce for consumers.”

Omni-Yield is now being prepared for deployment, with projects underway in Australia, India and Sri Lanka, and market partnerships establishing in Europe and the US. In addition, grower demonstration sites in Australia and India, developed in partnership with CSIRO, will launch later this year.

The company is gearing up for a hard launch in spring 2025, positioning itself as a global leader in next-generation CEA technology.

How ExCelligent was founded

ExCelligent was co-founded by professor Andy Hill and senior research fellow Lesley Cheng, who worked together on the technology in Professor Hill’s lab at La Trobe University.

Prof. Hill is now an honorary professor at La Trobe, and the deputy vice-chancellor for research and impact at Victoria University. Dr Cheng heads the Neurodegeneration Biology and Biomarker Research group at La Trobe University.

“The investment from the Eagle Fund has allowed us to launch ExCelligent and embark on a program to bring our diagnostic tests for Alzheimer’s and Parkinson’s diseases to market,” Prof. Hill said.

“This comes at a crucial time with cases of both diseases rising with our ageing population.”

Breakthrough Victoria investment partnership

The partnership was established under the $100 million Breakthrough Victoria University Innovation Platform, which aims to increase commercialisation of critical research with real-world benefits from Victorian universities.

Investment in startups at this critical early stage will help fund product concepts, prototypes and trials to help ensure research with strong commercial potential does not succumb to the valley of death. Researchers and academics will also receive support to better identify and translate ideas into commercial opportunities and improve their entrepreneurial capability.

Breakthrough Victoria was launched in 2021 to be a private investment company for Victoria, providing patient capital and investment that impacts the State’s economy. BV provides long-term capital to innovation businesses that will improve people’s lives and benefit Victoria’s economy.

www.latrobe.edu.au

 

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ACS welcomes Federal Government’s 2020 Cyber Security Strategy

ACS, the professional association for Australia’s technology sector, has welcomed the release of the Federal Government’s 2020 Cyber Security Strategy. 

ACS said added support and resources were essential to secure Australia’s technology infrastructure.

The $1.67 billion investment to build new cybersecurity capabilities, while strengthening the protection of Australians, businesses and critical infrastructure from the most sophisticated threats, recognised the critical role IT services play in modern society and the economy, according to ACS president, Ian Oppermann. 

"The COVID-19 pandemic has illustrated the key role the ICT profession plays in keeping the Australian economy running," Dr Oppermann said.

"Protecting the community and essential infrastructure is increasingly important. Promoting greater collaboration to build Australia’s cyber skills pipeline is an important aspect of the strategy, with the 2019 ACS Digital Pulse reporting a shortfall of over 100,000 skilled IT workers by 2024.

“The recognition that this responsibility goes beyond governments and includes business, industry and the community is also welcomed, particularly the emphasis on raising community awareness towards online threats and educating small to medium business on mitigating risks to their operations," he said.

In March, ACS released guides for small and medium businesses to secure their operations during the COVID-19 shutdowns and has since launched a resources page to help companies protect their networks and technology infrastructure from malicious actors.

“We congratulate the Australian Government on delivering the 2020 Cyber Security Strategy,” Dr Oppermann said.

“ACS and Australia’s technology professionals look forward to working with the government to realise the strategy’s objectives and secure the nation’s digital future.”

www.acs.org.au

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Defence Forces hackathon #Shockproof manoeuvres with ACS guidance

AUSTRALIA's professional association for the technology sector, ACS, has joined as the execution partner for the Australia and New Zealand Defence Force (ANZDF) virtual hackathon, branded #Shockproof, being staged on May 15-17.

According to ACS CEO Andrew Johnson, all crisis situations require whole-of-nation coordination and decision support to mobilise resources.  

"With recent shocks such as bushfires, floods and now COVID-19, #Shockproof is focused on enhancing resilience in supply chains and building sovereign capability," he said. "#Shockproof looks to bring together the ingenuity of the Anzac spirit and inspires the trans-Tasman innovation that we need now." 

This ANZDF Hack is open to Australians or New Zealanders, or their organisations to participate.

Previous participating organisations have included start-ups and microbusiness, consultants, small to medium business and their representative industry associations, with the virtual hackathon providing a pathway to become part of the wider defence innovation ecosystem.

“ACS was privileged to be invited to participate, and we encourage all our members and other stakeholders from the technology sector and innovation ecosystem to get involved and apply your problem solving skills to building solutions in the national interest,” Mr Johnson said.

Registration is open through https://www.anzdfhack.org/.

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ACS extends six months free membership to help Australia’s tech professionals

ACS, the professional association for Australia’s technology sector, today announced the automatic extension of existing memberships by six months to assist IT professionals deal with the fallout of COVID-19 restrictions.

ACS CEO Andrew Johnson said, “At a time when Australia, and indeed the global community, is facing unprecedented challenges with the COVID-19 pandemic, ACS is keen to do its part in helping our members, our nation and our citizens navigate through this turbulent time."

To support members, ACS is providing a complimentary six-month extension of membership to those who were active financial members as of March 1, 2020. 

In practice, this means normal membership renewal anniversary dates will have six months added to them at no charge. This will be automatically processed by April 30, 2020.

“The technical skills of ACS members will be critical to navigating the current economic downturn due to COVID-19, and collaboration across ACS members will be key to reinventing playbooks, supporting businesses to digitise, and developing new ways to achieving sustainability,” Mr Johnson said. 

ACS is the professional association for Australia's technology sector. More than 43,000 ACS members work in business, education, government and the community. ACS Labs operates Brisbane’s River City Labs, Sydney’s Harbour City Labs and Melbourne's Bay City Labs.

www.acs.org.au

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Technology association ACS to overhaul governance, form as a company

ACS, the association for Australia’s technology profession, is set to become a company limited by guarantee, in the wake of a special general meeting held last Friday.

The change, approved by 75.1 percent of eligible voting members, will see the ACS change its name to the Australian Computer Society Limited and replace the existing Rules and Objects of the Society with a new constitution under the Corporations Act.

ACS president Yohan Ramasundara said, “Today’s meeting is a strong mandate that we are heading in the right direction. I am truly humbled by the support ACS members have shown throughout this process. 

“It is a real privilege to lead ACS at this historical moment in time. I want to assure all members that our DNA won’t change as a result of this decision,” Mr Ramasundara said.

“ACS remains a not for profit membership based professional body, our core focus is on professional standards setting through the development and maintenance of core bodies of knowledge, certification and accreditation programs, and professional education. 

“Professionalism is enshrined into the new constitution by ensuring only members of the ACS Professional Group are eligible for consideration on the future board of directors, and that our membership in the governance model is limited to individuals only rather than companies.”

Since being founded in 1967, the ACS has been an incorporated association in the Australian Capital Territory. In 2017 the ACS laid out its five-year strategic plan focusing on boosting the profession’s capacity and capability while positioning ACS as a catalyst for innovation.

Following the release of the strategic plan, the ACS consulted with almost 200 elected members on the suitability and limitations of its existing association-based governance model.

After the review, the ACS National Congress unanimously recommended at its December 2018 meeting for the society to migrate to a company limited by guarantee while maintaining its not for profit status.

The October 25 special general meeting was scheduled to consider that recommendation.

Mr Ramasundara said ACS strives for technology professionals to be recognised as drivers of innovation in Australian society, relevant across all sectors, and to promote the formulation of effective policies on technology and related matters.

www.acs.org.au

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ACS opens tech innovation hub in Melbourne

ACS HAS LAUNCHED one of Melbourne’s most innovative and collaborative workspaces, located in the Docklands area.

ACS president Yohan Ramasundara, launched the hub at 839 Collins St with Victoria’s Parliamentary Secretary for Jobs, Jane Garrett on July 25.

Covering more than 2,000sqm of digitally enabled floorspace, the new technology and innovation hub was developed by ACS, the professional association for Australia’s technology sector.

Mr Ramasundara said the Melbourne hub was an important milestone towards delivering on the ACS strategy. 

“We’re delighted to be able to contribute to Victoria’s vibrant technology scene,” Mr Ramasundara said. “The opening of our Melbourne hub is also part of ACS’ commitment of being a catalyst for human capital development while helping the creation and adoption of emerging technologies.

“Our strategic plan focuses on three Cs – capacity, capability and catalyst – where capacity and capability are about ensuring our nation has sufficient and necessary tech skills to achieve an economy higher up the value chain, and one which affords higher paying jobs.”

The Docklands hub has been purpose-built to drive the development of digital communities and features private workspaces, high-tech meeting rooms, large screens and an interactive media wall, with the facilities available to ACS members along with industry and government partners.

Equipped with the latest technology, the collaborative workspace was designed to create a venue where tech professionals and businesses can come together and tackle some of the nation’s pressing technology challenges, such as cyber security, personal privacy and artificial intelligence.

ACS CEO Andrew Johnson said, “We believe Australia can be a world leader in technology talent, and the Docklands hub is part of realising this vision.

“The hub creates a meeting place for Victoria’s technology community and gives entrepreneurs a venue to demonstrate their products to a broad audience, gain important insights and iterate throughout the development process.” 

The hub will house over 150 tech professionals, and along with over 50 trades employed during the fit out, brings 200 jobs for Victoria, Ms Garrett said.

www.acs.org.au

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RiverPitch Live Sydney gives 10 startups a shot at investors

THE RiverPitch Live event series took place for the first time in Sydney on June 27 at the Sydney Startup Hub, giving 10 innovative early-stage companies a platform to attract vital investment in Australia.

After a successful RiverPitch series in Brisbane, powered by River City Labs and followed by a television series, RiverPitch Live Sydney welcomed a guest list of investors, startup industry professionals and the technology startup community.

Ten teams were selected to pitch on the night to an audience of more than 100, including pre-screened investors.

“It was our first time presenting RiverPitch Live in Sydney, we had high expectations of the Sydney market,” ACS Labs CEO Peta Ellis said. ACS Labs operates Brisbane’s River City Labs, Sydney’s Harbour City Labs and Melbourne’s Bay City Labs.

“The goal was to deliver the same value as our previous Brisbane RiverPitch events for startups and investors and to provide a strategic and direct approach to capital raising" Ms Ellis said. 

“It was great to see the Sydney community of startups and investors come out to support us in our first official event powered by Harbour City Labs. We look forward to delivering RiverPitch events in Sydney as our commitment to facilitate greater levels of investment in Australian startups.”

Teams presenting on the night included Robert Bate’s Swarm Farm Robotics. A farmer from Emerald and founder of Swarm Farm, Mr Bate impressed the audience with his robotics technology farming machinery, designed to create a new farming system using lightweight, autonomous robots.

Staybil presented their team’s award-winning AI-powered software-as-a-service (SaaS) that allows organisations to reduce costs, time, workforce turnover and environmental impacts while simplifying their operations not complicating them.

Founder of Power Ledger, Gemma Green pitched the company’s technology in helping to transact energy, trade investment commodities and invest in renewables.

The evening concluded with networking and teams showcasing their products and services to potential investors..

RiverPitch Live Sydney 10 final teams were Monarc Global, Squizify, Staybil, Conpago, Superdraft, Inndox, Benchvote, Power Led, Swarm Farm Robotics and Vapar.

RiverPitch is an investment series run by River City Labs that provides a platform for entrepreneurs to present their business opportunities to a group of registered investors in order to help raise capital for the company.

“RiverPitch aims to provide a different approach to capital funding and de-formalise the search for the next investment,” Ms Ellis said.

“We are committed to fostering innovation, putting founders first and creating outcomes to ensure tech sector growth impacts our economy to produce world stage tech brands.”

River City Labs was founded by television’s Shark Tank judge, Steve Baxter, in 2012 and the not-for-profit organisation was bought by Australian technology professional association, ACS last year, in order to expand its national reach.

ACS Labs was formed, headed by serving RCL CEO Peta Ellis, and the RiverCity Labs method has since been extended to both Melbourne and Sydney as Bay City Labs and Harbour City Labs.

www.acs.org.au

www.rivercitylabs.net

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