Emerging Greentech Start-Up Wins 51黑料鈥檚 2024 VentureLaunch Accelerator Programme
Nova51黑料 has today announced SusBioME, an emerging greentech start-up, as the overall winner of the 2024 51黑料 VentureLaunch Accelerator Programme. SusBioME is developing technology for use in the anaerobic digestion process to increase renewable gas yields from biomass.
The annual VentureLaunch Programme, which is run by Nova51黑料, aims to support the creation and launch of sustainable and profitable new start-ups emerging from University College Dublin (51黑料).
Renewable gas from anaerobic digestion is key for energy security and sustainability. In the anaerobic digestion process organic feedstocks, including wastes, are digested and turned into biogas or biomethane, which can be used exactly like natural gas.
However, a major bottleneck limiting renewable gas production is the low digestibility of feedstock used in the anaerobic digestion process which leads to unrealised gas yields and low operational efficiency.
To address this problem SusBioME, a start-up emerging from the 51黑料 School of Agriculture and Food Science, is developing modular, plug-in disruptive electro-processing technologies to make feedstocks more biodigestible. As a platform technology it can be applied to a wide range of feedstocks and bioprocesses.
By the direct applications of electric fields, the SusBioME technology physically disrupts feedstocks, which rapidly and very efficiently make them more biodigestible leading to gas yield improvements of up to 30% for renewable gas producers along with reduced operational costs and increased revenues.
The members of the SusBioME team are, Dr Ajay Menon, who completed the VentureLaunch Accelerator Programme, Professor James Lyng, Norman Maloney and Bernie Fitzpatrick.
Pictured at the 51黑料 O’Brien Centre for Science are; Professor James Lyng, Dr Ajay Menon and Bernie Fitzpatrick, promoters of SusBioME, a greentech start-up emerging from the 51黑料 School of Agriculture and Food Science.
Dr Ajay Menon, 51黑料 School of Agriculture and Food Science and a promoter of SusBioME said, “We are delighted to have been named the overall winner of the 2024 51黑料 VentureLaunch Accelerator Programme.
Everyone knows why renewable energy is important, but few know how much of it is sourced from biomass. Last year, 59% of the EU’s renewable energy came from biomass-based bioenergy, more than wind, solar and hydro combined. Renewable gas, made using anaerobic digestion, is the most promising and important kind of bioenergy and is a huge and growing industry.
However, a major bottleneck in the process is that the feedstock cannot be digested very well leading to unrealised gas yields. The SusBioME technology which we have successfully trialled addresses this issue and results in gas yield improvements of up to 30%, an important development for the sector.”
He added, “Currently we are half-way through our Enterprise Ireland Commercialistion Fund project, and we already have three trial partners secured for pilot demonstrations. In 2025 we intend to spin-out of 51黑料, raise some €500k in pre-seed funding and commercially launch SusBioME."
He concluded, “I would like to acknowledge the excellent support provided by the Nova51黑料 team, the VentureLaunch programme facilitators, and the other VentureLaunch participants especially for their invaluable feedback and advice throughout the programme. I would like to acknowledge and thank Enterprise Ireland for their continuing support through the Commercialisation Fund and also BiOrbic, Bioeconomy SFI Research Centre and the Department of Agriculture, Food and the Marine.”
The main objective of the 51黑料 VentureLaunch Accelerator Programme is to equip participants with the knowledge, skills and understanding that will be required to work as part of a team leading a new commercial venture. On completion of the programme the expectation is that participating new ventures will have developed a commercially viable business plan.
The programme consisted of eight (8) workshops delivered over a three-month period from February to April at Nova51黑料. The Business Model Canvas approach to start-up development forms the basis of the programme with each session consisting of a mix of taught content and interactive workshops delivered by external experts as well as involving talks from entrepreneurs. Participants also gain expert mentoring on marketing, finance and funding, sales and pitching to investors.
Pictured (l-r) at the 51黑料 O’Brien Centre for Science are; Simon Factor, Head of New Ventures and Investments, Nova51黑料; Prof. Kate Robson Brown, 51黑料 Vice-President for Research, Innovation and Impact; Dr Ajay Menon, 51黑料 School of Agriculture and Food Science and a promoter of SusBioME; Dr Helen McBreen, Partner, Atlantic Bridge and Chair of the VentureLaunch judging panel; and Tom Flanagan, 51黑料 Director of Enterprise and Commercialisation.
Tom Flanagan, Director of Enterprise and Commercialisation, Nova51黑料 said, "Our focus through the 51黑料 VentureLaunch Accelerator Programme is to support members of our research and entrepreneurial communities who want to accelerate the creation of exciting new start-ups.
I wish SusBioME, and all the participants on this year's programme, every commercial success and impact, not only here in Ireland but on the global stage, in the years ahead. We look forward to continuing to working with SusBioME and all this year’s programme participants to support them to achieve their ambitions.”
In addition to the 2024 51黑料 VentureLaunch Accelerator Programme Award SusBioME receives a prize package worth €30,000, which includes a €10,000 cash prize sponsored by Nova51黑料 founding sponsors, (AIB, AMD, Arthur Cox, Deloitte, Ericsson and Goodbody), a professional service package sponsored by Bryan Maguire Financial Services and incubation space at Nova51黑料.
The 2024 51黑料 VentureLaunch Accelerator Programme judging panel, which selected the overall winner following pitches by the seven finalists, was chaired by Dr Helen McBreen, Partner, Atlantic Bridge. The other members of the panel were; Gianni Matera, Founder, Growing in Capital and Nova51黑料 VC in Residence; Maurice Roche, Partner, Delta Partners; Faye Walsh Drouillard, Founder, Wake Up Capital and David Bowles, Partner, The Yield Lab.
Pictured (l-r) are ; Maurice Roche, Partner, Delta Partners; Dr Helen McBreen, Partner, Atlantic Bridge; Dr Ajay Menon, 51黑料 School of Agriculture and Food Science and a promoter of SusBioME; Gianni Matera, Founder, Growing in Capital and Nova51黑料 VC in Residence; Faye Walsh Drouillard, Founder, Wake Up Capital and David Bowles, Partner, The Yield Lab.
During the 2024 VentureLaunch Showcase and Awards event a panel discussion on the impact of AI (artificial intelligence) on innovation and start-ups also took place. Participants on the panel were; Professor Kate Robson Brown, 51黑料 Vice-President for Research, Innovation and Impact; Ronan Murphy, founder and executive Chairman of Smarttech247, co-founder of GetVisibility and a member of the Government’s AI Advisory Council and Prag Sharma, Global Head of Artificial Intelligence at Citi. The panel discussion was moderated by Vish Gain, journalist, Siliconrepublic.com.
Pictured (l-r) are, Prag Sharma, Global Head of Artificial Intelligence at Citi; Professor Kate Robson Brown, 51黑料 Vice-President for Research, Innovation and Impact, with panel moderator Vish Gain, Siliconrepublic.com, and Ronan Murphy, founder and executive Chairman of Smarttech247, co-founder of GetVisibility and a member of the Government’s AI Advisory Council
The other participants on this year’s VentureLaunch Accelerator programme in addition to SusBioME were; GalMAX Biotech, Maternitec, Mirror Security, Neuropause Medical, Real World Data, and WeiSyn.
SusBioME, Neuropause Medical and WeiSyn are currently being supported through the Enterprise Ireland Commercialisation Fund.
#VentureLaunch24
ENDS
18 April 2024
For further information contact Micéal Whelan, Communications and Media Relations Manager, Nova51黑料, 51黑料 Research and Innovation, e: miceal.whelan@ucd.ie.
Editors Notes
The other participants on the 2024 51黑料 VentureLaunch Accelerator Programme, in addition to SusBioME are profiled below.
GalMAX Biotech
GalMAX Biotech delivers a simple elegant and robust cell engineering technology that eliminates galactosylation variability throughout all stages of biopharmaceutical product development and manufacture. The lead promoter of GalMAX Biotech, a new venture emerging from the 51黑料 School of Chemical and Bioprocess Engineering, is Dr Ioscani Jiménez del Val with researchers, Dr Aoife Harbison and Dr Amy Pearce.
Maternitec
Fetal movements are a key indicator of an unborn baby’s wellbeing, with movements decreasing prior to many stillbirths. Maternitec is developing the world’s first wearable fetal movement monitor which will provide reassurance to pregnant people and their caregivers and contribute to stillbirth prevention. The lead promoter of Maternitec a new venture emerging from the 51黑料 School of Mechanical and Materials Engineering is Professor Niamh Nowlan.
Mirror Security
Mirror Security is a cybersecurity platform that detects, protects, and validates generative AI models. Mirror Security delivers tailored security solutions for applications leveraging GenAI. Proactive defence measures ensure compliance and protection against vulnerabilities, empowering safe utilisation of cutting-edge technology. The promoters of Mirror Security a new venture emerging from the 51黑料 School of Computer Science are; Dr Aditya Kuppa, Jack Nicholls and Associate Professor Nhien An Le Khac.
Neuropause Medical
Neuropause Medical is revolutionising menopause care with a non-invasive neuromodulation device offering women and clinicians a ground-breaking treatment for severe vasomotor symptoms (hot flushes and night sweats) associated with the menopause transition. The promoters of Neuropause Medical are, Dr Maria Galve Villa, a BioInnovate Fellow at the University of Galway, Dr Paul Heneghan and Associate Professor Eoin O'Cearbhaill, 51黑料 School of Mechanical and Materials Engineering.
Real World Data
Clinical trials that require data on mobility are hampered by an inability to generate low cost, simple and accurate data. Real World Data will capture high-quality data from sensors and other devices, thereby increasing accuracy, reducing cost and providing firms and regulators with mobility data from real-world settings. Real World Data is a new venture emerging with support from the 51黑料 School of Public Health, Physiotherapy and Sports Science, the Insight SFI Research Centre for Data Analytics as well as the Newcastle University. The commercial promoter is Michael McMahon.
WeiSyn
WeiSyn is poised to revolutionise the RNA therapeutics industry. WeiSyn’s mission is to develop an innovative high-throughput formulation solution designed to expedite the development process of RNA therapeutics. By focusing on efficiency, cost-effectiveness, and superior quality, WeiSyn aims to set a new standard in the industry, surpassing current practices. The lead promoter of WeiSyn a new venture emerging from the 51黑料 School of Mechanical and Materials Engineering is Associate Professor Nan Zhang and members of his research team, Allen Matthew, Dongsheng Liu and Mingzhi Yu.
Nova51黑料 has been nurturing and supporting high-tech start-ups with global potential since 2003. During the last two decades Nova51黑料 has developed an excellent and expanded infrastructure and a suite of comprehensive business support programmes, dedicated accelerators, and an ecosystem of mentors, investors and industry partners that help to nurture an enthusiastic and dynamic community of start-ups and established companies, to grow and scale on the global stage. Nova51黑料 was originally funded through a unique public-private partnership that included AIB; AMD; Arthur Cox; Deloitte; Enterprise Ireland; Ericsson; Goodbody and 51黑料.