Media Release by Cicada Innovations
Australia’s national deep tech incubator Cicada Innovations has acquired custodianship of Australia’s longest-running annual deep technology conference Tech23 as the capital raised by their deep tech companies eclipses $5.7 billion.
Tech23 and Cicada Innovations have always been united by a shared mission to celebrate and support Australian deep tech innovators, with both organisations boasting a lengthy track record of nurturing some of Australia’s most successful companies:
- Combined capital raised by Cicada Innovations and Tech23 companies amounts to at least $5.7 billion
- Notable companies include: Culture Amp (Tech23 2009), Morse Micro (Tech23 2018), Regrow(Tech23 2017), and Inventia (Tech23 2018)
- Notable 2022 milestones for Cicada Innovations include:
- Residents and alumni collectively raised $310 million, including large raises by Morse Micro ($170 million) & Regrow ($54 million)
- Resident SpeeDx won the 2022 Prime Minister’s Prize for Science Innovation
- Resident LLEAF attracted international investors in its $3.5M seed funding round
- Resident Invertigro won the InnovationAus Award for Agri Food Innovation
- Resident Gelion opened a local manufacturing facility attended by Ed Husic MP and Chris Bowen MP
- Cicada Innovations was chosen by CSL, WEHI and The University of Melbourne as the operator for its new Melbourne-based biotech incubator to drive translation of world-class medical research
- CEO Sally-Ann williams was appointed as the chairwoman of the Federal Government’s “Pathway to Diversity in STEM” review panel
For 13 years, Tech23 has showcased and championed over 300 of Australia’s most promising high-growth deep tech companies, while providing a mechanism for venture capital, other investors, media, advisors, policymakers, and potential local and global customers to learn about and connect with these companies.
The event, planned for May 2023, will ask big questions about how we build the future – from sustainable cities to game-changing climate solutions and completely new paradigms of human health. Creating a space to connect and spark meaningful conversations about the ideas, technology, and innovators that can propel humanity into a better tomorrow.
Cicada will take a proactive approach to finding the next 23 startups, setting out on a national roadshow in early 2023 to engage with local ecosystems and unearth emerging deep tech voices and give them national platform and vital exposure and support.
Cicada will also implement a strategic shift from focusing on sectors like “agtech” or “spacetech” to looking at systemic solutions to broader problems, such as “reimagining the built environment” or “putting an end to waste”, to ensure a holistic approach to problems and solution design.
Sally-Ann Williams, CEO of Cicada Innovations, said: “Complex challenges require complex solutions that come from the intersection of technology and industry. If we wish to take a systematic approach to driving change, we need to start by asking the big questions around the problems we want to solve. We then need to gather the willing and the able around these problems in order to solve them.
“We are so excited to be extending the work of Rachel Slattery over the past 13 years, and taking over the reins of such an important event in the rapidly growing deep technology ecosystem. Nurturing powerful deep technology connections is something we do all day, every day at Cicada Innovations. So we are looking forward to building on Rachel’s excellent work to ensure the conversation continues throughout the year.”
Rachel Slattery, owner of Slatterys, said: “I am delighted that Tech23 will now be steered and revitalised by the impressive team at Cicada Innovations, who was one of our foundation supporters. Having Cicada take the helm in driving Tech23’s role in amplifying Australia’s deep tech capabilities is a perfect fit.
“Tech23 has evolved steadily over the last 13 years, as deep tech has increased in prominence. The pandemic alone shone a long-awaited spotlight on deep tech innovation, providing us with a great example of how these innovations must be agile, solutions-focussed, and human-centred at their heart.
“The magic of Tech23 is the serendipitous connections and cross-fertilisation of clever, passionate people who are helping to build us all a better tomorrow. I am so delighted with Cicada’s plans to supercharge this goal of a better tomorrow in Tech23 2023, and in years beyond.
“My hat goes off to Cicada Innovations and the role it plays in championing Australia’s deep tech ecosystem, passionately amplifying game-changing technology, nurturing entrepreneurs, and connecting the ecosystem in a bid to build us all a better future. Tech23 could not be in better hands.”
Michael de Nil, CEO of Morse Micro, said: “Morse Micro was one of the ‘Tech23’ in 2017, and the recognition and platform it provided meant we gained exposure and connections to investors and industry leaders in those early days. Deep tech is often hidden and requires a different level of support to scale, so the fact that Cicada is going to be driving Tech23 forward is great news for early-stage deep tech startups and the Australian ecosystem.”
