Innovus set up four new spinouts during lockdown

Since March 2020, and despite the lockdown period announced as a measure to manage the global COVID-19 pandemic locally, Innovus has set up five new spinout companies and raised a total investment of R12million for Stellenbosch University projects and startups.

The four companies are BIOCODE, Phagoflux, Susento and Biotikum, says Anita Nel, Chief Director of Innovus. The Innovus team is working with researchers on a fifth spinout company, Immobazyme.

Furthermore, says Anita, four projects received a total amount of R2 449 476 from the Technology Innovation Agency (TIA) Seed Fund. “The University Technology Fund (UTF) Seed Fund stage invested R3 million in two companies, with due diligence being conducted on a third company.  Four SU projects have also successfully obtained UTF Pre-Seed funding from Innovus, and the total value of this investment is R1 482 550.  Another investor invested an amount of R5 million in one of our recently established startups.”

Measured against international standards, this is an outstanding achievement for Innovus.