Brisbane biotech Gelomics will represent Australia in KPMG’s Global Tech Innovator challenge after winning the local pitch competition.
The startup, which grows human tissue in a petri dish for drug testing as an alternative to animal testing in pharmaceutical drug development, was selected from among five high-powered finalists chosen from 155 entries.
The annual KPMG Global Tech Innovator challenge seeks to identify the world’s most innovative and exciting tech startups. The Australian leg of the competition, organised by KPMG High Growth ventures. Amanda Price, head of KPMG High Growth Ventures said the calibre of applicants was exceptional in the the third year of the Australian program.
“All of our finalists came to the table with bold, industry-changing ideas,” she said.
“Going global is an imperative and a challenge for Australia startups. The KPMG Tech Innovator initiative helps put founders on the map by showcasing their innovation at the largest tech conference in the world.
“We were delighted with the breadth and depth of Australian innovation we saw during the process to select these finalists. Each entry was unique and demonstrated a high level of global potential, making the selection process incredibly challenging.”
Gelomics cofounder and CEO Dr Christoph Meinert receives a fully-funded trip to Lisbon’s Web Summit present their idea with a chance to be named the 2024 KPMG Global Tech Innovator.
He’ll also have the chance to present their technology in front of 70,000 investors, policy makers and industry leaders at one of the world’s largest startup and technology conferences.
Last month Gelomics raised its first venture capital, banking $2.2 million in a pre-Seed round.
The finalists were judged by KPMG Enterprise’s Josh Geelan, Main Sequence’s Emerald Scofield, Jerry Stesel from OIF, Lighter Capital’s, Melissa Widner, and Chris Gillings from Cut Through Venture.
The final five were:
DoveTail Electric
CEO & cofounder: David Doral
DoveTail Electric provides an integrated electric system that includes electric motors and battery packs to turn existing airframes into zero-emission commercial aircraft for short flights. This enables clients to get modified aircraft for regional flight, integrating hydrogen systems and aviation operators to avail the service for a financially sustainable future.
Jim Fader, from Eden Brew
Eden Brew
Cofounder & CEO: Jim Fader
Eden Brew uses precision fermentation to brew nature-identical casein (dairy) proteins.
These caseins are then combined in the presence of nutrition, to form the casein micelle, the same as in dairy milk.
The micelle is fundamental for nutrient loading and bioavailability, heat stability, and many of the sensory and physical properties loved by consumers in dairy milk & dairy consumer products.
Gelomics
CEO: Christoph Meinert
Gelomics revolutionises drug development by enabling pharmaceutical companies to grow human tissue in a petri dish. This disruptive innovation serves as a highly predictive alternative to animal experiments and conventional cell cultures, which commonly fail to predict human drug responses accurately.
The technology will significantly reduce the reliance on animal testing, accelerate drug development, cut costs, and enable life-saving treatments to reach patients quicker and safer than before.
InTruth Technologies
CEO & founder: Nicole Gibson
InTruth Technologies is a developer of a wearable-compatible app that tracks your emotional state in real-time, and provides hyper personalised AI insights, acting as a personal emotion coach and decision-making tool.
Sustainable Salons
Cofounder: Paul Frasca
Sustainable Salons partners with salons to collect and repurpose waste materials like hair, metals, plastics, and chemicals.
These materials are transformed into valuable resources, such as hair booms for oil spills, soil treatments for plants, and plastic for closed-loop products.
NOW READ: Brisbane to the world: How biotech game-changer Gelomics expanded to 21+ countries in 5 years
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