Two innovative NSW companies, Archology Systems and Redback Systems, have graduated from Cicada Innovations’ inaugural Fast Start program within the NSW Deep Tech Commercialisation Training Program, an initiative funded by the Office of the NSW Chief Scientist & Engineer (OCSE).
Fast Start is a six-month intensive coaching program delivered by Sydney-based incubator Cicada Innovations, tailored to early-stage, high-potential companies which are looking to grow their business and bring their innovations to market.
"We are immensely proud to see Archology Systems and Redback Systems graduate from the inaugural Fast Start program. This initiative, a key component of the NSW Deep Tech Commercialisation Training Program, is specifically designed to address the unique needs of each team. In six months, Archology Systems has built their demo site and had conversations with a global concrete supplier, and Redback Systems has improved their sales processes and officially spun out from Macquarie University,” CEO, Cicada Innovations, Sally-Ann Williams said.
NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte said the Deep Tech Commercialisation Training Program would result in more NSW startups achieving commercial success.
“My Office runs a number of commercialisation funding programs that provide grants to support the translation of research-led ideas into devices and systems. The Deep Tech Commercialisation Training Program allows recipients from these grant programs to receive further expert advice and support, and increase their chances of scaling up their operations. This additional support drives the development of an ecosystem of technology-rich startups, scaleups and SMEs in NSW,” NSW Chief Scientist & Engineer Professor Hugh Durrant-Whyte said.
The Deep Tech Commercialisation Training Program provides researchers and entrepreneurs with commercialisation knowledge to refine their market strategy, identify customers, scale their business and help them grow and attract additional public and private investment.
OCSE is partnering with Cicada Innovations for a second year of the Deep Tech Commercialisation Training Program to help support more NSW companies on their commercialisation journey and see a further four companies be mentored through Fast Start.
“I'd like to extend our gratitude to the Office of the NSW Chief Scientist & Engineer for their unwavering support. Their commitment has empowered these startups to navigate some of the challenges of bringing innovations to market, and positions NSW as a global leader in fostering deep tech entrepreneurship," Ms Williams said.
The Deep Tech Commercialisation Training Program offers three programs:
- Fast Start
- Elevate, a two-day workshop and e-learning course for those with a deep tech idea with commercial potential that aligns with the NSW 20-Year R&D Roadmap
- Foundations, a free e-learning course to provide the key concepts and frameworks for building a successful deep tech business.
The two graduate companies completed the Elevate workshop and were selected for Fast Start due to their high-performance and commercialisation potential:
Archology Systems develops vertical greening systems to reduce the heat load on buildings, reduce urban heat island effect, improve air quality and contribute to carbon capture and storage. Their technology uses smart irrigation systems with integrated sensor and actuator technology to act as a water management system, and is specifically designed to provide habitat for wildlife, contributing to biodiversity in urban environments.
Redback Systems develops compact, high-resolution spectrometers to capture a wide spectral range in a single snapshot for use in broad scientific and industrial domains. Redback Systems has several different products to apply spectroscopy solutions to enable new applications, new discoveries and new markets.
The next Elevate two-day workshop is on 21 and 22 November and is fully subscribed. Cicada Innovations is recruiting for an additional Elevate workshop on 19 and 20 March 2024 where another 20 companies will have access to experts, entrepreneurs and operators who will provide specialist advice on how to build a deep tech business.
Apply for the Elevate workshop and Fast Start program at the Cicada Innovations website.
Bruce Ritchie| OCSE | 0429 412 426