Breakthrough Victoria and Swinburne University of Technology are each investing $500,000 in EntroMat, a company specialising in High Entropy Materials (HEMs.) HEMs are made by combining five or more main elements and possess “unique chemical and microstructural complexity” and can have useful properties such as high strength and hardness, corrosion and wear resistance, and thermal…
State government-backed venture fund Breakthrough Victoria has announced Rod Bristow (pictured) as its new Chief Executive Officer, replacing inaugural CEO Grant Dooley. In a statement on Monday, BV said Bristow came with over 30 years’ experience in the “stockbroking, asset management, wealth management, agribusiness and not-for-profit sectors”, and was most recently CEO of Sydney and…
Electric motor startup Kite Magnetics will open a new factory in Melbourne’s southeast, the state government has said. According to a statement from the Victorian government on Friday, the upcoming factory is expected to create “more than 140 highly skilled jobs and up to 550 indirect jobs” and increase production of Kite Magnetics’ Aeroperm to…
Breakthrough Victoria has invested $800,000 in Diag-Nose.io Medical (DNM), a Melbourne-based innovator in respiratory healthcare, to enhance clinical management and drug discovery for chronic respiratory diseases globally. Originally launched from Stanford’s ENT Innovation Program and now headquartered in Notting Hill, Melbourne, Diag-Nose.io is revolutionising the treatment of chronic respiratory diseases (CRDs) like asthma and COPD,…
Breakthrough Victoria is investing $2 million in Umps Health, a Victorian company developing sensors and AI to enable proactive aged care at home. The Umps Link, a smart home platform, is the product of six years of research and development and now supports thousands of households across Australia. The technology is easily installed in the…
State government-backed venture fund Breakthrough Victoria has announced a new $7.5 million Breakthrough Fellowship Program, aimed at supporting researcher entrepreneur talent. According to a statement from the organisation on Friday, the program aims to cultivate “the next generation of startup founders from Victorian universities and medical research institutes” and is predicted to “establish up to…
3D printed automotive, aerospace and drone heat exchanger manufacturer Conflux Technology has secured $11 million in its Series B funding round, led by the Victorian government venture capital arm Breakthrough Victoria. Breakthrough pledged $5 million along with investors AM Ventures and Acorn Capital, with the cash to be used to accelerate development of its Conflux…
Derrimut-based Viridian Renewable Technology, which produces fertilisers and insect-based protein ingredients for pet and animal feed, has received a $2.5 million investment from state government-backed venture fund Breakthrough Victoria Located in Melbourne’s western suburbs, Viridian plans to up factory capacity over the next 12 months and take on 15 employees. The plant will supply “over…
Grant Dooley, the CEO of state government-backed venture fund Breakthrough Victoria, has announced he is resigning after almost three years in the role. “The opportunity to serve as Breakthrough Victoria’s inaugural CEO is one that I will forever cherish,” said Dooley in a statement on Friday morning. “In just under three years, BV has been…
Breakthrough Victoria is investing $3 million in fabless semiconductor company MILLIBEAM, aiming to accelerate the development and global adoption of millimetre wavelength (mmWave) radio chipsets for 5G/6G communications networks. The investment from Breakthrough Victoria will significantly bolster MILLIBEAM’s operations in Melbourne, with the company planning to hire an additional four specialised systems engineers and five…
