$25m fund helps bring research from the lab to market

Ventures developing new treatments for cardiovascular disease, type 1 diabetes, and innovative technology that captures carbon dioxide from the air are among the first to receive backing under the University of Sydney’s new Pre-Seed Launch Fund. 

The $25 million fund, the first-of-its-kind to be launched in NSW, invests in innovative ideas and high-potential people, translating academic research into high-growth companies. It is designed to support activities that bridge the gap between proof-of-concept funding and private venture capital, providing support for promising ventures associated with the University.

Interim Deputy Vice-Chancellor (Research) Professor Julie Cairney said the fund underscores the University’s commitment to supporting its entrepreneurial staff, students and alumni to innovate and bring their research to market.

“The Pre-Seed Launch Fund is the latest in a suite of programs we have developed over the past five years to help commercialise research and support social enterprises,” she said. 

Other programs include proof-of-concept and market validation grant funding, inventor mentoring and award-winning startup support. 

Unlike grants, the fund will see the University taking equity in the companies it invests in, with ongoing support and development to secure the next stage of venture capital funding. 

The University has a strong track record in fostering successful innovation, with 259 start-ups supported by our ecosystem which have raised more than $1.4 billion to date. 

The first ventures to receive backing under the fund are:

Developing technology to capture and purify carbon dioxide from the air, using a third of the energy at a quarter of the cost of competitors. Carbon capture is predicted to be a $1.2 trillion industry by 2050, required for the production of sustainable aviation fuels, chemicals, and algae production.

Sam Wenger (submitted his PhD in Chemistry at the University in December 2024) and Professor Deanna D’Alessandro, Director of the University’s Net Zero Institute, founded DAC Labs in 2024.    

A life sciences spinout developing an oral pill for type 1 diabetes, which affects almost 9 million people globally. With Phase I trial results expected by mid-2025 and early interest from major pharma players, the company is positioned for significant commercial and clinical impact.

Professor Victoria Cogger, Professor David Le Couteur  and Dr Nicholas Hunt founded the spin-off in 2023 after 20 years of research. ProtoAxiom venture capital has also invested in EndoAxiom.

Transforming aerosol characterisation for inhaled and nasal drug products, helping pharmaceutical companies accelerate clinical trials and improve FDA approval rates.

Engineering academic Associate Professor Agisilaos Kourmatzis spun out ASK Scientia in 2024.

Renowned medicinal chemist Professor Michael Kassiou and cardiologist Professor Gemma Figtree are developing innovative therapies for chronic inflammatory conditions in cardiovascular disease via ProKardia.

A groundbreaking device that simulates human cardiovascular conditions, allowing researchers to more accurately test new drugs and devices instead of using animals.

Backed by regulatory reform tailwinds and a rapidly growing $1.8 billion market, the technology, created by Professor Steven Wise and Dr Timothy Mitchell, has early customer interest and expansion potential into kidney and neurology research.