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…
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…
Bioelectrical medical device developer Neo-Bionica has secured an investment of $5 million from Breakthrough Victoria, which will accelerate its growth both domestically and internationally. Neo-Bionica is a Melbourne advanced MedTech manufacturer that specialises in providing commercialisation and manufacturing services to develop AI-powered implantable and wearable medical devices. The company’’s expertise includes developing devices designed to…
Breakthrough Victoria has emerged as an investor in US-based “stratospheric exploration company” World View to the tune of $37 million, with the Arizona-headquartered company planning to establish a manufacturing operation and hire “up to 200” in Victoria. The investment vehicle for state government funds made the announcement on Friday morning. It shared that World View…
The Victorian government-funded Breakthrough Victoria has made a $12 million investment into Aravax, part of a $66 million funding round in the biotechnology company, which is developing a novel peanut allergy treatment. Aravax is a clinical-stage company developing PVX108, its immunotherapy product that uses synthetic peptides to mimic key parts of peanut proteins to retrain…
The Victorian government has announced new co-investment partnerships with five Victorian universities, with $87 million in total to be allocated through the Breakthrough Victoria – University Innovation Platform program The new partnerships are with Deakin University, La Trobe University, Monash University, RMIT University and Swinburne University, and according to industry minister Ben Carroll “will help…
On Monday we published part one of this article, concerning what a scaleup company is and why they matter. Today we conclude by looking at what they need. By Brent Balinski. There are 25,000 tonnes of wet wipes thrown out by Australians every year, all made of polyester or polypropylene and therefore non-biodegradable, and almost…