The Minns Labor Government has announced successful grant recipients in two research commercialisation programs and launched a new $20 million funding program to support companies developing high-tech innovations in NSW.
At an event at Greenhouse, Sydney's climate tech hub, Minister for Innovation, Science and Technology Anoulack Chanthivong congratulated companies being supported through both the Biosciences Fund and RNA Pipeline Grants program and announced the launch of the new Emerging Technologies Commercialisation Fund.
Emerging Technologies Commercialisation Fund
The Minns Labor Government is serious about science and innovation and recognises the real economic returns it brings for the people of NSW. That's why the Government has launched the new Emerging Technologies Commercialisation Fund: a $20 million, multi-year initiative to support innovative young companies developing systems, devices and therapeutics across all branches of science.
The Fund incorporates elements of the Biosciences Fund and Physical Sciences Fund as well as broadening support by placing an enhanced focus on innovations to boost local manufacturing capabilities.
The Emerging Technologies Commercialisation Fund is designed to help NSW startups turn world-class research into market-ready products, services and systems, creating high-value jobs and ensuring NSW remains the best place in Australia to start and grow an innovative business.
The first round has a funding pool of $7 million and opens at 10:00am on Friday 6 March. Guidelines and an application form can be found at this webpage:
https://www.chiefscientist.nsw.gov.au/etcf
Biosciences Fund recipients
The Biosciences Fund is a $4.75 million, competitive commercialisation program which supports NSW startups in biotechnology and life sciences to develop and bring their technologies to market. In this round four companies were awarded grants, spanning sectors from renewable energy through to infant nutrition.
- All G is addressing the nutrition gap between infant formula - derived from cow milk - and human milk by replicating the composition and function of breast milk more closely.
- HydGene Renewables has developed a breakthrough biocacatalyst technology that converts waste biomass into green hydrogen for producing key primary molecules at low cost - such as ammonia and methanol - without fossil fuels.
- Number 8 Bio is tackling the approximately 6% of total carbon emissions created by the world's 2.6 billion cattle and 1.2 billion sheep. The company has identified a methane inhibitor molecule that is highly effective, safe and can be produced at scale and low cost. This active ingredient is incorporated into a small cylinder, which is delivered orally and dissolves in the stomach over 4-6 months.
- Swan Genomics has developed a world-first DNA sequencing technology that is simpler and cheaper than conventional platforms that rely on bulk optics and highly complex chemistries. Their technology is designed with scalability and accessibility at its core and can be deployed in regional hospitals, diagnostic labs, and field sites.
RNA Pipeline Grants program recipients
The RNA Pipeline Grants program is a $6 million, single-round, competitive technology development and commercialisation program which supports startups developing innovative RNA-based therapies, vaccines and technologies. The program is helping to build a robust pipeline of RNA-based products in NSW that could be manufactured at the soon-to-be-opened RNA Research and Manufacturing Facility. RNA Pipeline Grants program is part of the NSW Government's $119 million RNA R&D Initiatives. Two companies were successful:
- Platypus Bio is developing 'TRICK' - Trigger RNA-Induced Cell Killing. This highly targeted RNA therapeutic only activates inside cancer cells that carry specific harmful RNA mutation signals, destroying the diseased cell while sparing healthy tissue.
- Vaxosome is developing a multiplexed mRNA TB vaccine to address the key limitations in the current treatment of tuberculosis. Tuberculosis is still the world's leading cause of death from an infection disease, and the current vaccination doesn't reliably protect adolescents and adults from the most common lung form of the disease.
Minister for Innovation, Science and Technology Anoulack Chanthivong said:
"This is an important night for NSW. We gather to celebrate globally significant innovations being developed by NSW companies, which will have tangible impacts on people around the world. Tonight's Biosciences Fund recipients are developing unique solutions for infant formula, green hydrogen for chemical applications, livestock emissions reduction and low-cost genomic sequencing.
"Meanwhile, the RNA Pipeline Grants recipients are developing world-leading therapeutics that could save lives - a highly targeted treatment for cancer, including acute myeloid leukaemia, and an mRNA tuberculosis vaccine offering improved immune protection over current treatments.
"The RNA Pipeline Grants also serve an important role in developing RNA capabilities that will make the most of our new RNA Manufacturing Facility, which will open soon.
"I'm also excited to announce the launch of our newest program supporting innovation in NSW, the Emerging Technologies Commercialisation Fund.
"Stemming from our Innovation Blueprint, the Emerging Technologies Commercialisation Fund targets the well‑known 'gap' in the innovation pipeline: the stage where promising technologies have early evidence but still need funding and support to mature into investable, scalable solutions. The new Fund does this through repayable grants that help de‑risk development and accelerate commercialisation outcomes.
"The Minns Labor Government is committed to providing ongoing support to innovative companies to solve real-world challenges, such as tonight's recipients who are achieving landmark health, environmental and economic outcomes right on our doorstep."
