Bio 10x
Supporting the next generation of Biotech Startups.
A Biotech startup often begins with a simple yet profound idea: a novel approach to solve current or emerging challenges, deeply rooted in scientific discovery and engineering innovation. These ventures require founders to expertly navigate highly regulated environments and embrace longer timelines for market entry. The journey involves extensive research, development, and testing, often demanding significant capital. Due to the extended development periods and inherent uncertainties, biotech startups might not always attract traditional venture capital, which tends to favour quicker returns.
The Bio 10x accelerator is uniquely designed for founders with a deep understanding of biology, providing them with the crucial resources they need to turn groundbreaking ideas into market ready solutions. Previous Info Session: watch a recording here.
Australia wide program. Applications for 2024 are closed. EOI for 2025 are currently open.
The Program
Our 10-week intensive program is tailored to equip Biotech Founders with the essential skills required to build successful businesses. We go beyond the basics. We delve into the complexities of biotech innovation and its market applications. Our founders emerge not just with knowledge, but with a robust, actionable strategy for success.
Program Benefits
10-Week Tailored Program: Receive a comprehensive, biotech specific program, free of charge, valued at $150,000.
Dedicated Program Manager: Benefit from the guidance of your Program Manager, Maddison McCoy, who’s had recent experience in a biotech startup in a technical role and commercial role. A maximum of 6 startups will be allowed, so there will be a lot of 1:1 support.
Expert Mentorship: Gain access to seasoned mentors with a wealth of knowledge in the biotech field.
$70,000 Seed Investment: Secure a $20,000 seed investment through a UNSW SAFE note and $50, 000 SAFE note from Proto Axiom. .
State-of-the-Art R&D Facilities: Utilise cutting-edge services and facilities vital for your research and development (available upon completion of the program).
Applicants will be considered for up to $30,000 worth of analytical services at Bioplatforms Australia supported facilities.
Free Lab Access: Enjoy up to six months of free access to top-tier lab spaces to advance your project.
Post Program Support
Post-accelerator, we continue to support our founders with the ability to access to co-working space, state-of-the-art lab space and R&D infrastructure. Bio 10x is the only Australian Accelerator to offer this highly technical access. Recognising the challenges and costs associated with high-quality biotech facilities, we ensure our entrepreneurs have what they need.
Bio 10x Strategic Partners
Bio10x is proud to partner with Proto Axiom Australia’s leading medical and life sciences biotech incubator. They bring a wealth of global networks and an intimate understanding of what it means to build a biotech company. Through Bio 10x you will get support from the Proto Axiom team and access to their founder and support network. You also have the exclusive opportunity to stress test your Biotech company with the Partners who you will pitch to. Up to six biotech startups will receive $50k seed investment via a SAFE agreement with Proto Axiom along with the opportunity for additional follow on investment. This is an exclusive opportunity to build a strong relationship with one of Australia’s leading biotech incubators.
Where innovation is grown in a lab, you need a lab. That’s why Bio 10x has partnered with UNSW’s School of Biotechnology and Bimolecular Science and the RNA Institute. They help our founders with access to infrastructure and technical expertise that’s unattainable outside of a University environment.
Bio 10x is also proud to partner with Bioplatforms Australia. Applicants will be considered for up to $30,000 worth of analytical services at Bioplatforms Australia supported facilities.
The exclusive access to these partners not only accelerates the development and testing process but also significantly reduces the financial barriers associated with high-level biotech research.
Essentials
Key Dates
Bio 10x Accelerator 2024 Dates
Info Session: 28 February
Pre-Accelerator: 2-30 May (more info here)
10x Applications open: 12 April
10x Applications close: 20 May
10x Bootcamp: 1-2 August
10x Program commences: 7 August
10x Program concludes: 9 October
10x Demo Day: 24 October
Eligibility
You have a desire and a mission to create change
You are founding a biology-enabled startup or you’re an academic or researcher looking to spin out
You have a proof of concept and want to know how to build that into an impactful product (minimum TRL 3, ideally TRL 4 and above)
Your company is (or will be!) an Australian registered Pty Ltd.
Is Bio 10x for me?
If you are a Startup founder Who:
Has an Australian-based biotech startup?
Needs of access to labs / require scientific infrastructure?
Has secure IP? (Or in the process of doing so)
Needs to develop your business knowledge to build a business?
Prepared to commit your on a weekly basis to your Startup?
Wants to rapidly expand your network in the biotech space with UNSW’s access to mentors, investors, domain experts and connections in industry?
If you answered Yes to any of the above, Bio 10x is for you.
FAQs
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No! For Bio 10x you do not need to have an affiliation to UNSW. The only requirement is that your startup is domiciled in Australia.
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You need to have freedom to operate. We do not take your IP! (We don’t want it). The only thing we do, is we work with our lawyers to ensure that you’re not infringing on anyone else’s rights.
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We take equity in the form of a SAFE note (Simple Agreement for Future Equity). We do not put a valuation on your company. The next investor will do this - which determines the percentage of equity UNSW Founders will receive. We invest 20k so it is calculated from that investment value.
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No! Our median age of accelerator participant is 46. We have founders from various backgrounds (industry, research and more).
Meet a few of our Founders
Michele Stansfield from Cauldron Ferm
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Cauldron (2022 alumni) are, addressing a critical global challenge: feeding 10 billion people. by 2080. Cauldron is pioneering a revolutionary approach through 'Fermafacturing.' This innovative technique harnesses the power of precision fermentation, a field where Australia has unique capabilities and resources, positioning the country as a leader in this space. Cauldron raised $10.5 million in their seed round and are currently expanding their facilities in orange and Mackay, QLD. Their approach promises to redefine the future of global production on a massive scale, showcasing the transformative potential of biotech.
Tom Williams and Alex Carpenter from Number8bio
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Number8bio, (2022 alumni) emerged from Macquarie University with a focus on using microorganisms to convert greenhouse gases into animal feed, aiming to reduce the impact of agriculture on land use and emissions. Their innovation capitalises on the metabolic capabilities of specific microbes to process greenhouse gases. In their pre-seed round they secured $1.8 million following their time in the program. The funding, supported by Main Sequence, Possible Ventures and UNSW, is aiding Number8Bio in advancing their fermentation-based platform. This platform holds potential for significantly mitigating methane emissions in animal agriculture, illustrating a practical application of biotech for climate solutions.
Sam Banister and Josh Ismin from Psylo
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Psylo, (2022 alumni) is pioneering the use of psychedelic-derived substances for mental health treatment. Leveraging computational chemistry, they optimise natural psychedelic compounds, exploring their potential in treating conditions like PTSD, depression, and anxiety. This innovative approach positions Psylo at the cutting edge of mental health therapeutics, moving beyond traditional SSRIs. Their commitment to developing accessible, effective treatments has attracted significant attention, culminating in a successful $5 million seed funding round.
Read all about us in the news
