Technology entrepreneurs Cicada Innovations, which is 25 per cent owned by The Australian National University (ANU), has won international recognition as the 2018 global Incubator of the year.
The International Business Innovation Association (InBIA) in the United States named Cicada Innovations its top incubator from 2,200 member incubators from across Australia, the Americas and Europe.
Based in Sydney, Cicada Innovations was set up by ANU, the University of Sydney, the University of Technology Sydney, and the University of New South Wales to bring business and industry together with technology researchers to encourage new start-ups and companies.
ANU Pro Vice-Chancellor (Innovation) Professor Mick Cardew-Hall, who is on the Board of Cicada Innovations, said the award was well-earned recognition for a program that focuses on deep-technology businesses that need long-term nurturing.
"This is a magnificent award and demonstrates how ANU, collaborating with other leading Australian universities, is working with business and industry to help create the industries of the future, and to ensure technology and scientific research can be used to solve some of the world's great challenges," Professor Cardew-Hall said.
Cicada Innovations is home to more than 70 companies and revenue earned by Cicada Innovations companies has topped $800 million since 2006, with more than 700 products launched.