Don’t worry. This message may be long but none of it was written by generative AI.
It is imperfect and perhaps has language errors but it is 100% human voice.
You will notice that the text does not contain “I” or “me, my team, my vision, my message”. This is because there is little to no space for “I” in building innovation ecosystems for collective impact. Instead …
“We” are a Collective.
We work together, we co-own, co-design, co-deliver, we believe, we fail and we succeed together. We have impact together. And it is not just those who work in CBRIN, it is us as a collective of entrepreneurs, innovators, business owners, educators, researchers, intermediaries, partners, supporters, mentors, investors, makers, government, corporate, social enterprises = the innovation community. “We” includes the people we disagree with. It includes people who are different, the dreamers, the shakers, the rebels, the followers, the leaders, the observers, the rapid doers as well as the deep thoughtful ones.
One thing “we” are all looking forward to towards the end of this year is …
… the break!
For many of us, the end of year break equals = joy, family, friends, sport, games, relaxation and many other different things but perhaps most importantly it is an opportunity to ‘reset’. We are keen to recharge so we can re-emerge with new energy, new ideas, re-ignited passion and drive to help us take on the next year.
But before we reset, we have the responsibility to look back and reflect. This is important so we can learn and tune our ambitions for the future.
So how was 2024?
It has been a tough year on many fronts and regarding various pressures – they may be here to stay for some time. High cost of living, high interest rates, challenging housing affordability, global geopolitical conflicts and wars, continued inequalities, climate crisis, financial pressures on our academic and research sector, technologically unhinged AI disrupting all that we know in ways we cannot yet fully grasp. And more.
It is now very clear that ‘challenging’ is the new normal. When we came out of the bushfires and COVID (are we actually out of these?) did you also think the world would now somehow be easier on us?
Such is the power of optimism.
An environment that builds collective resilience
We of course are learning that there is no such thing as ‘easier’.
And with that we came to appreciate the importance of resilience. Resilience that builds on connectedness, belonging, trust and caring about each other. These are fundamental to help us survive the tough and challenging situations that are inevitably ahead of us. There are many ways how you can search for and grow your resilience – as a great local example see what Ben Alexander and is doing with ‘Running for Resilience’ movement and related efforts. And many others of course.
In its essence, what CBRIN is doing is similar. We strive to curate an environment that attracts people to grow a movement. A movement that empowers Canberrans to take responsibility to do something positive and different about our future. A future built on innovation, entrepreneurship and collaboration.
We believe that a clever, connected and creative Canberra that grows our excellence in science, research, innovation, entrepreneurship and business represents a future where existing as well as the next generations can find meaning, purpose, prosperity, self-actualisation, resilience and motivation.
We believe this all starts with people, programs and places that activate, house and curate a highly connected ecology of relationships, trust and interactions that are not controlled nor directed but rather function like a ‘rainforest’. A highly productive ecosystem where everyone has their role, everyone and every activity is important and contributes to the collective performance and shared growth. Serendipity, unexpected connections and developments, collaborations on the edges, experiments, failures and learnings, help offered and provided without calculated ‘return’, behavioural norms that build trust – these are all parts of what we have learned to call a ‘rainforest’ innovation ecosystem. You can read more about this in an excellent 2012 book by Greg Horowitt and Victor Hwang: The Rainforest – the Secret to Building the Next Silicon Valley.
CBRIN has now had a decade of nurturing and facilitating this environment, culture and relationships to help Canberra-based entrepreneurs, innovators and emerging as well as re-inventing enterprises access this special source of resilience. A source of transformative energy, inspirational people, support, connections, ideas and early-stage capital helping entrepreneurs make an impact and change the world for the better from Canberra.
So, how have we been tracking and what has been achieved in those 10 years?
Lots on one hand and not enough on the other.
Such are the simultaneously present powers of gratitude and ambition.
Last financial year alone, $280M was raised by Canberra-based innovation companies.
This is unprecedented. And many of these companies did not yet exist 10 years ago.
Canberra’s innovation and technology scene has really been on the rise over the last decade. Did you know Canberra now has its first decacorn? A Canberra born technology company that has grown rapidly to exceed $10B valuation.
Canberra-born and bred innovation companies are doing amazing things to create a better world.
Innovative on demand healthcare solutions, highly usable scientific instruments, machines that can see, waste to protein circular solutions, trusted, secure, environmentally conscious and sovereign data centres, infinite enzyme-based plastic recycling, quantum sensing, room-temperature quantum computers, large scale satellite constellations, broad spectrum vaccines, carbon storage in construction materials, open-source data and software management tools, advanced predictive forestation and deforestation modelling, mobile phone banking and remittance helping to lift people from poverty, bushfire and disaster real-time mapping, bio-codable filtration membranes, drones that track wildlife, bio-sensors, digital twins, innovative identity management, records management, cybersecurity and metadata solutions, intelligent beehives, neuroplasticity-based chronic pain management solutions, non-alcoholic cocktails and non-alcoholic craft beers, a variety of social and creative innovation enterprises, … .
We could go on. Apologies for not having the space and capacity to mention the focus of every entrepreneur or team working hard to make an impact and change the world from our innovation ecosystem.
We are undoubtedly (at least here in Canberra) getting better at translating knowledge, research and ambition to market ready solutions. You may say there is lots to improve on but there are also so many reasons to be proud.
CBRIN itself has evolved and grown.
In fact, we doubled in capacity in 2024. At our hub at 1 Moore Street, you can now find:
- 3,200 square meters of space dedicated to new and growing entrepreneurial ventures, innovation and collaboration
- 2 levels of innovation focus – Level 5 for solo entrepreneurs and early-stage innovation teams, and Level 4 for scale ups and SMEs
- 320 desks, across:
- 3 open spaces with capacity of 150 desks – both dedicated and part-time shared desks
- 22 offices with a combined capacity of 170 desks, ranging from 4 desks to 23 desks in size
- 4 event spaces, with a capacity of 30 to 200
- 11 meeting rooms, with capacity from 6 to 18
- 8 phone booths, of which two can provide wheelchair access
- 4 kitchenettes and breakout spaces
- End of trip facilities with 2 showers
- A vibrant and interactive community of entrepreneurs, innovators and collaborators facilitated and taken care of by our super welcoming coworking community team, Candace Rhind and Belinda Stokes
- At a time of celebrating our 10-year anniversary, the opening of Level 4 Scale Up Hub has been an important addition to the Canberra Innovation Network offering. However, CBRIN itself is just one part of an ever-expanding innovation infrastructure in our city. The ANU Agrifood Innovation Institute for agtech, foodtech and related innovation companies sitting at the connection line between ANU and CSIRO campuses, The Mill House Ventures for social enterprises and Innovation Central plus the Innovation Building at the University of Canberra, Badji for indigenous entrepreneurs, UNSW Launch for defence, space and cybersecurity innovation across the Northbourne and Reid campuses, ANU Momentum at Research School of Physics but also other spaces across the ANU Campus such as the Research School of Chemistry that house deep tech companies, a dense and growing network of privately operated coworking spaces in the city, the Academy of Interactive Entertainment’s Canberra Technology park, the Dairy Road precinct, the defence and aviation precinct at the Canberra Airport – impossible to really name them all here. And more coming online soon, such as the Woden Campus of the Canberra Institute of Technology or the soon to be built UNSW Canberra campus in Reid.
- The more important question is the following:
How do innovation spaces in our network come to life with activity that leads to impact?
- We had an exceptional year in this regard.
- In 2024, CBRIN observed the highest number of First Wednesday Connect participants in our history. Two out of the 11 events held monthly attracted over 500 registrations (the Innovation Showcase over 600) and in total we have hit over 3,000 registrations for the year for the first time. In fact, the average First Wednesday Connect in 2024 had 287 registrations, up from 268 in 2023. More importantly, the ecosystem is really expanding with 47% of registrations being from people who have never been to a First Wednesday Connect before. That is 1,514 people who are “new” to the ecosystem in 2024. Over the past 10 years, CBRIN has had more than 80,000 registrations at its events, of which over 20,000 were registrations at First Wednesday Connects. We run anywhere between 220 and 260 events per year. Our estimate is that there are now approximately 19,000 individuals connected in the Canberra innovation ecosystem through CBRIN, up from 8,000 in 2016, and 15,000 in 2021.
- This ecosystem vibrancy and engagement translates into a strong pipeline of entrepreneurial ventures.
- CBRIN meets one on one with approximately 100 new entrepreneurs with new ideas per quarter. Over 150 of them annually apply for an Innovation Connect (ICON) grant, and approximately 15-17 become ICON recipients, annually accessing an aggregate of 500k in cash of matched support to develop their prototype or idea to become market ready. This deal-flow of entrepreneurial ventures translates into a strong applicant pool for mentor-led Griffin Accelerator (now one of the longest consistently running accelerators in the country) who selected seven high growth potential teams to work with this year. Other ventures pitch to raise capital through Capital Angels or through our annual Investor Showcase that attracts also interstate venture funds and investors. In 2024, we had 32 companies present at the Investor Showcase to over 50 investors, representing 20 venture funds. The next Investor Showcase will be held on 2 April 2025, so mark your calendars if you are an investor or a company that is growth ready!
Focus on Growth
- The CBRIN Growth team led by the super-smart and highly experienced Dr Craig Davis also runs successful scale up leaders group, SME accelerator, Idea to Impact workshop series, Founders Collective, Mentor and Investor Network, Research to Impact program, InnovationACT and many other activities. These include making referrals, running events such as fireside chats, lunch and learns, expert office hours, holding hundreds of founder conversations to always be on the side of the entrepreneurs, while helping to coach, connect and encourage them to find customers, investors, partners, experts or new employees. At the same time, these engagements focus on assisting the ventures strengthen their value proposition, improve their pitch and find their scalable, repeatable business model, based on a solid product-market fit. And if you think this is easy to do without support, think twice. Or better yet, we dare you to become a part of it in 2025. You can tap into any of these programs for support, connections and inspiration. When you do, you will engage with the amazing Hayley Maddox, who runs all pre-startup programs and major events, the super-connected Irene Zhen who leads all deep-tech, scale up and investor/mentor activity, and the super-calm Shash Bokil, who is responsible for all things SMEs and high-growth potential business acceleration (until recently so capably run by Hannah Hartgers and supported by Sam Hodgson). If your venture is more social impact focused, we recommend you engage with the Mill House Ventures (talk to the always helpful Craig Fairweather, Tom Navakas and the whole mentor and partner network around them) who provide support and look after enterprises trading primarily for social, cultural or environmental impact.
Diversity, collaboration and engagement
- We also care about who is in the ecosystem and who may be missing, which is work that never ends and is one where we aim to learn and improve over time. The Female Founders events, driven by our exceptional Chief Operating Officer Sharyn Smith consistently focus on getting more women into entrepreneurship, innovation and STEM and on creating an environment where everyone is welcome to join, learn, connect, experiment and grow. We also profile women in innovation on our blog and through newsletters and other media channels. There are so many amazing women led (not only innovation) companies in our ecosystem that you may not have yet heard about, so make it your goal in 2025, to get to know them, invest in them, buy from them or connect them to customers, investors and resources they need to succeed. This work is by no means done as you can read from this opinion piece by Sharyn Smith or this one by Ilea Buffier, local entrepreneur and one of the many amazing members of our advisory committee.
- We welcome everyone and anyone who is ready to help. In 2024 we partnered with the Australian School of Entrepreneurship to offer a skills and confidence building program over six months to young potential entrepreneurs aged 16+. Diversity and access to the innovation ecosystem will continue to be a strong focus for our work in 2025 and beyond. People from the LBTQIA+ community, neurodiverse people and people with disabilities currently engage in the coworking and community events and we continue learning on how to improve. Entrepreneurship connects and empowers people, and we have an obligation to ensure that the ecosystem is accessible to generate better outcomes for our community.
- Apart from places, programs and community we have the ambition to ‘engineer serendipity’. This work is led and championed by the impressive duo of Kelly Cruz and Jack Cassidy, our collaborative innovation team. Over the past 12 months, this team delivered 16 collaborative innovation events with 528 participants from 8 different sectors, including creative industries, space tech, ICT, environment, education, defence, advanced manufacturing, urban design and social impact.
- Our programs and events would certainly be harder to fill without the excellent work of our marketing and comms team, led by Sharyn Smith and capably coordinated by our super-humble Marketing Officer Ben Garrett, plus until recently also Laura Croft. Telling the stories of entrepreneurs, maintaining the channels to connect with the community and building broader awareness of the innovation scene in Canberra as well as the many specific opportunities on offer are the fundamental goals of our marketing team. In terms of the network, we also have the privilege to work with the UNSW Canberra Launch collaborators and deliver community engagement, connections and events through a superstar team of Hayley Maddox, Adam Clark and until recently also Francis Brown.
- One thing that is a superpower of the CBRIN team is the ability to naturally fill the gaps. Everyone is involved across the whole gamut of planning and delivery. Team members may own chapters and focuses of the delivery, but the team is fully flexible, adaptive and highly advanced in collaboration. This may not be for everyone. It tests your awareness, your patience but it helps build generosity, courage and develop true collaboration mastery. Rather than being experts in managing complexity, we aim to learn how to be more adaptive in every day practice.
- Without taking away from the importance of these activities, performance and style of delivery across the three pillars of our strategic directions: innovation capacity, entrepreneurial capacity and placemaking, we also wanted to look this year at what this means in the long term.
How do our efforts to nurture a culture and environment for innovation and collaboration translate to economic and social impact for our community?
- According to a PwC study from November 2024 “Canberra Innovation Network’s Economic Impact” that attracted close to 200 respondents from across the ACT innovation community, the following has been achieved:
- $197M added to the ACT Gross State Product in 2024 alone
- 1,615 jobs would not exist in the Canberra economy in 2024 if it were not for CBRIN
- ~ $900M cumulative economic impact estimated over the 10 years of CBRIN’s lifetime
- Over $50 of economic value generated for every $1 of cash investment made by the ACT Government in CBRIN over the first 10 years
- 12x. When we sum all inputs, in-kind and cash, of all partners ever involved, CBRIN’s input to value conversion is still sitting at 12 times.
- 92% of respondents have realised at least one positive outcome from engaging with CBRIN and more than half of all respondents had 7 or more specific outcomes from engagement with CBRIN
- Social connection, access and community, identity and belonging, education and lifelong learning and economy were the areas where respondents saw CBRIN adding value to the ACT wellbeing framework
- Majority of respondents believe that CBRIN has a high or critical impact on ecosystem connectedness (75%), entrepreneurial capacity (68%) and innovation capacity (58%)
- The outcomes that were most often cited included: validating and progressing new ideas, ability to think commercially, ability to manage a business, development of connections, and ambition, purpose and vision
This would not be possible without a strong and foundational support of so many.
Who is behind all of this?
- We appreciate and are grateful to all people involved in the innovation ecosystem.
- The ACT Government provides base funding, accommodation and project funding, such as the Innovation Connect grant or Refurbishment Grant of Level 4. Through economic development policy and other funding ACT Government stimulates the entire environment for innovation in the ACT.
- CBRIN Foundation Members. The publicly funded higher education and research institutions that are core to the ACT economy and include, the Australian National University, University of Canberra, Canberra Institute of Technology, UNSW Canberra and CSIRO. These institutions fund, support, guide and collaborate with CBRIN to co-create the ecosystem in which their researchers and students can find pathways to commercialise, collaborate with or work on exciting new ventures that will make an impact and change the world.
- CBRIN partners, especially our Gold Partners including King, Wood and Mallesons, PwC Australia, Optus and Canberra Airport.
- Our collaborators broadly assembled within what we refer to as the Innovation Ecosystem Extended Team, including the ACT Government Business Innovation team, Lighthouse Business Innovation Centre, Canberra Business Chamber, Canberra Cyber Hub, UC’s Innovation Central, Badji program for indigenous Entrepreneurs, The Mill House Ventures, Agrifood innovation institute, Capital Angels, Campus Plus, Screen Canberra, Austrade and representatives across our Foundation Members and partners, such as the Academy of Interactive Entertainment. These people meet to coordinate, cross promote, share and support each other monthly.
- CBRIN Board. CBRIN has one Ex officio director, three independent directors and five directors representing the Foundation Members. The directors are responsible for governance, risk, strategy, resourcing, guidance and direction of the company. Among other things, they work hard to maintain focus, look after Board composition, cohesion and relevance and return of what the company does for the community.
- CBRIN Advisory Committee. The CBRIN Board has three committees, but the Stakeholder Advisory Committee is perhaps the most important one. It connects the Board with the voices of the broader innovation community. It meets regularly, provides input in strategy, work planning or delivery of specific projects and initiatives. It refreshes regularly and represents entrepreneurs, investors, researchers, ecosystem experts, corporates, innovation companies, partner and other stakeholders.
- CBRIN team, past and present, the people who are at the coal face of the daily innovation ecosystem building activities. The team of twelve has over the years been a work home for more than 30 amazing individuals who have given their best shot to helping create the impact described above. Many thanks to all of you. No matter where you are now, how short or long you have been with us, you had really made an impact on this ecosystem and we remain grateful to you.
- And last but not least, we must name the most important group.
- On the Canberra Innovation Network banner, you will find a simple statement: “INNOVATION STARTS WITH YOU”. You, the awesome people of the Canberra Innovation ecosystem. You have the key to making sure that 2025 will be the year when a big thing will start, grow or pivot to make an impact. You can be the next founder, co-founder, team member, mentor, coach, supporter, investor, corporate or government champion, customer, social innovator, collaborator, commercialising researcher, maker, inventor or a leader excited and passionate about creating a better future through innovation a collaboration.
- Thank you. We are grateful for your courage, ambition, generosity and your willingness to participate and we cannot wait to work with you in 2025!
