CSIRO’s VC Main Sequence funds SynBio 10x Accelerator
Deep tech fund, Main Sequence, has partnered with UNSW Founders to offer startups $140,000 to help solve the world's biggest problems in food, agriculture, health, and medicine through synthetic biology.
With v2 - Australia’s #1 plant based meat company - raising $72M last year, it’s a partnership that reflects the potential of the $27B SynBio industry.
What is SynBio 10x?
The SynBio 10x Accelerator is the third addition to UNSW Founders’ flagship 10x Accelerators. Its aim: to foster Australia's next generation of startups in Synthetic Biology and Biotech. Run in conjunction with the RNA Institute and UNSW School of Biotechnology & Biomolecular Sciences, SynBio 10x is a national program which provides Australian SynBio startups access to capital, scientific infrastructure and networks to accelerate product development and commercialisation. Applications are open to all Australian SynBio or biotech startups, from UNSW or any other institution, or non-university affiliated startups.
As a program partner, Main Sequence, the deep tech fund founded by CSIRO, will invest $120,000 into each startup accepted into the Accelerator program, with select, high performing startups also having the opportunity to secure further investment from Main Sequence post program. UNSW Founders will also invest a further $20,000 into successful startups for a total program investment of $140,000.
Successful startups in the program will have access to UNSW’s new $250m state of the art labs.
Australia’s SynBio industry set to lead the world
The SynBio industry has already proven its potential to help solve some of the world's biggest problems in food, agriculture, health, and medicine, with Australia being in a prime position to lead developments in this space. CSIRO’s National Synthetic Biology Roadmap is estimating the industry to be worth $27 billion a year by 2040. SynBio 10x is aimed at helping Australia tap into this potential by giving researchers and scientists the capabilities, resources and capital to do so.
David Burt, UNSW Director of Entrepreneurship said: “The biggest bottleneck for Australian SynBio startups is a lack of access to the labs and scientific infrastructure that they need to do product development. Lab infrastructure is rare and expensive and so UNSW will give 6 of the best Australia SynBio startups 6 months of free access to everything they need to go fast.
“There’s enormous potential in the SynBio space to help address worldwide challenges, but only if they can access the necessary facilities and capital. This is why we launched SynBio 10x. Building on the success of our existing 10x accelerator programs, we will accelerate more great Australian startups who can create a positive impact with synthetic biology.”
Gabrielle Munzer, Principal at Main Sequence also commented on the partnership: “Engineering in biology is still largely an untapped space. But it has the potential to reimagine the way we create food, address climate change, find better health outcomes, and beyond. We just need to build an ecosystem that helps accelerate startups in this space.
“UNSW has the labs, Australia has the scientific talent, and with capital to support, we can help reap the full potential synthetic biology affords. We’re proud to be a part of SynBio 10x.”
Interested in SynBio 10x?
To find out more and apply, visit SynBio 10x or join any of our four Discover SynBio workshops.