ON Accelerate Success; Team ErythroSight Progresses To The Next Stage Of CSIRO's Innovation Program!
We are proud to shared that our ON Prime team, ErythroSight, has been selected to progress into the CSIRO's ON Accelerate program.
ON Accelerate is a structured accelerator program out of CSIRO. The aim of ON Accelerate is to take research teams with a commercial innovation and help them to develop it into a market ready viable company. Through this 15 week program ON Accelerate focuses on business model development, market validation capital raising and media training. Successful teams get access to venture capital groups, experts in a variety of business relevant fields (finance, start-up founders, IP lawyers, entrepreneurs) as well as a dedicated mentor throughout the program.
20 teams were selected to attend Bootcamp in Sydney (images below), where we were quickly placed in the deep-end with 5 rounds of investor and expert ‘speed dating’ to pitch our company, lead product, and team. From here the top 12 teams were chosen to advance to ON Accelerate, which starts in February 2024 with immersion week in Brisbane. All 12 teams will travel around Australia over the next 6 months and have virtual sessions with experts and mentors as well as the CSIRO team in between.
The end goal of this program is to have a highly viable disruptive deep-the venture which can be attractive for external funding and launched into market, along with the business and commercialisation skills to drive it there.
Throughout the program teams have the ability to gain up to $180,000 in performance bonuses to fast track necessary steps in their commercialisation journey.
Our team "ErythroSight" from the The Australian National University (ANU), Clear Vision Research, is composed of Riccardo Natoli, Yvette Wooff, Adrian Cioanca and Rakshanya Sekar, and is supported by Riya Palchaudhuri from ANU Research and Innovation Services (RIS).
ErythroSight has developed a novel therapeutic and manufacturing pipeline that harnesses red blood cell extracellular vesicles to treat retinal degenerations such as age-related macular degeneration (AMD), one of the leading causes of incurable blindness in the developed world.
Our goal is to take our preclinical data into clinical trials and spin-out ErythroSight to do this. We are very excited to participate in On Accelerate and begin our commercialisation journey.