Australia: CSIRO-backed Main Sequence Ventures invests in four startups

Sydney Opera House in Sydney, Australia

Australia’s CSIRO innovation fund, which has a corpus of A$200 million ($153.2 million), has invested in four deep tech startup ventures. The innovation fund is managed under a unit of CSIRO called Main Sequence Ventures, which is headed by Bill Bartee. Financial terms of the investments are undisclosed

The four startups that secured investment are Q-Ctrl, Intersective, Morse Micro and Maxwell MRI. They are engaged in the areas of quantum computing, data science for improved learning, next-generation Wi-Fi technology, and advanced cancer detection software respectively.

This aligns with the agenda of supporting new spin-out and startup ventures, as well as small enterprises to commercialise publicly funded research.

Speaking of the investments, Bartee said, “Our first investments are giving us a great start in backing ambitious entrepreneurs to build important and growing companies. Q-Ctrl has the potential to provide the firmware framework for quantum computers, Morse Micro is building the next generation of WiFi chip, Intersective is using data science to better equip our workers for the future and Maxwell MRI is changing the way we detect and diagnose prostate cancer.”

The fund was established as part of the Federal Government’s National Innovation and Science Agenda and is backed with A$70 million ($53.6 million) in government funding, A$30 million ($22.9 million) from CSIRO’s wi-fi patent fund and additional private sector investment.

In a statement, CSIRO chief executive Larry Marshall said, “Australia’s scientists are world leaders, but investing in science-driven innovation is hard — it needs the horsepower of Australia’s national science agency behind it.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.