Cicada Innovations will Spearhead $7.8M Cutting-Edge Westmead Facility Dedicated to Biomedical Research and Startups
Funding Round Info:
The Government of New South Wales Investment Program has selected Cicada Innovations, a deep tech incubator, to manage a new biomedical incubator in the Westmead Health and Innovation District, located 26km west of Sydney's CBD. Cicada has been granted $7.8 million to aid health and medtech startups in advancing their research and creating life-saving technologies at the Westmead Biomedical Incubator. Katie Knight, the CEO of Investment NSW, praised Cicada for their pioneering support of deep-tech startups and their long-standing commitment to the biomedical sector. Cicada has been conducting commercialization training programs for medtech and biotech founders on behalf of the government, which is expected to result in job opportunities and improved medical care. Brandon Capital will also play a role in supporting commercial outcomes through participation in Cicada's commercialisation programs, mentoring, and support for innovators in the precinct.
About Cicada Innovations:
Cicada is renowned as the epicenter of deep tech innovation in Australia. Over its impressive twenty-one-year history, the incubator has been instrumental in developing groundbreaking deep tech ventures that confront some of the most critical global challenges. Operating on the cutting edge of innovation, Cicada provides unwavering support to ventures committed to creating transformative technology. These ventures leverage cutting-edge scientific disciplines like advanced materials, synthetic biology, and artificial intelligence to address pressing issues like human health, food security, and the climate crisis. Since its establishment, Cicada has achieved remarkable success, with six deep tech ventures achieving exits valued at an astonishing $1.3 billion over the last two decades. Additionally, the incubator has facilitated more than $1.7 billion in funding for over 330 companies. Recognized for its excellence, Cicada has been honored with the prestigious 'Top Incubator in the World' title by InBIA twice. Moreover, the incubator has played a pivotal role in providing commercialization training to numerous professionals working in the fields of science and technology.
About Investment NSW:
Investment NSW is the NSW Government’s economic development and attraction agency, with a mandate to reinforce NSW as the most desirable place in the world to visit, study, invest and do business. The agency is helping to drive the state’s economic recovery and transformation by showcasing NSW business, events, tourism and international study for new markets and investors in Australia and around the world.
About Brandon Capital:
Brandon Capital is the premier life science venture capital firm in Australasia, boasting a robust worldwide presence backed by vital collaborations and a talented team spread across the US and UK. From initial seed investment to expansion capital, Brandon Capital aids life science companies at every stage, from proof-of-concept to successful commercialization.