Now five years old – so a startup in itself – the Nedlands-based Centre for Entrepreneurial Research and Innovation (CERI) announced this week they have put together a $100,000 fund to invest in CERI alumni and resident startups.
Set up by Canadian-born businessman Charlie Bass in 2016 to assist researchers and entrepreneurs bring their ideas to market, CERI runs various programs, as well as provide office space for several in-house startups.
To date, CERI has trained 600+ West Australians with an entrepreneurial mindset and the fundamentals of business formation and growth. The building in Nedlands has provided 19 startups with residency and delivered targeted leadership support with their CEO-In-Residence Program. CERI has also supported a further 25 startups with mentorship, meeting space and advisory work to help accelerate their journey. They have built a network of 25+ mentors through the MIT Mentor Program, which they plan to develop and scale in 2022.
Notable alumni include Terra15 and Laconik, both of whom also won a federal government Accelerating Commercialisation grant.
The new fund ‘CERI Start’ is made possible by a donation from Anthony Torresan of The Torresan Group, and Charlie Bass himself. At the launch on Wednesday this week, it was also announced that CERI had received permanent ‘DGR1 status’ in July 2021, which should also allow the fund to grow through other high-impact philanthropic donations.
“As a founder and entrepreneur myself, I understand first-hand how access to seed funding can accelerate product development and early-stage commercialisation, and ultimately make or break a startup.”
Anthony Torresan
“As an Investor, I am passionate about giving back to the startup community in WA through philanthropy and the CERI mission and vision really resonates with me. I was very inspired by Charlie Bass’s drive to enable a sustainable economic future for WA by supporting high-impact and deep technologies. I am very proud to be a founding donor for this excellent fund and initiative,” he said.
CERI Start is intended to provide eligible CERI alumni with micro-seed funding to assist with product development, R&D and early-stage commercialisation support. CERI Start will provide an opportunity for early-stage WA startups to receive small pots of funding. Aligned with CERI’s vision of creating the Industries of the Future, the funding is provided in the form of a SAFE note, allowing CERI to reinvest any gains back into future startups via the CERI Start fund.
“Since we opened CERI’s doors five years ago in 2016, it has been a core part of my vision to establish a fund for our startups.”
CHARLIE BASS, FOUNDER AND EXECUTIVE CHAIR OF CERI
“I have seen the enormous amount of sweat equity that our incredible founders put into their business, and I know how much difference even amounts as low as $2,000 can make to the R&D process, customer discovery and market validation – it can truly accelerate the timeline that brings our founders from lab to market.
“I am very proud to launch CERI Start as a founding donor with co-donor Anthony Torresan. This first fund of $100,000 will go a long way in helping our inspiring alumni, and we are committed to growing the fund and its impact in 2022 and beyond.”
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Expressions of Interest for CERI Start are now open.
