Your impact strategy in under 100 words
Small Steps Vol. 59: Starter guide to Theory of Change 🦋; Biotech flips to techbio 🔬; and the impact leverage of doctor time 👩⚕️
"Rise up, open your windows, let fresh air flood your bones... open your eyes and breathe out yesterday's air, and breathe in the opportunities"
— Solli Raphael, who at 12 years old was the youngest winner of Australian Poetry Slam in 2017.
Kick start
🤔 If you saw Giant Leap’s recent Theory of Change piece and your first thought was “They’re going too deep on coins”, we got you.
🦋 This week we went back to square one on the Theory of Change covering the what, the why, and the how. In short, it’s your impact mission and roadmap in under 100 words. Check it out here.
What we’re thinking about
🔬Biotech to techbio. With accelerating technology and computation power, the field of biotech - solving life sciences problems like drug discovery and precision fermentation - is shifting towards a tech-first approach, dubbed “Techbio”. While biotech companies start with the science, working in labs and coats, a techbio startup starts with frontier tech or AI/ML algorithms to solve research inefficiencies and increase surface area for discoveries. Examples include the recently funded Inventia Life Science (podcast here), which 3D prints human cells to test cancer treatments, or Insilico Medicine, which recently used AI to design a drug from scratch in less than 18 months (compared to 9 years for the average researcher ).
👩⚕️ Doctor Do-lots. Doctors are in short supply right now, with wait times for GPs almost doubling since pre-pandemic times. Yet 40% of a doctor's day is spent doing things other than doctor-ing, like clerical tasks or manually documenting findings (compiling a report for an autism diagnosis takes up to a week per patient). That’s a lot of wasted doctor, and only exacerbated by overloaded schedules pushing them into the burnout zone, with up to 60% of emergency medicos reporting high exhaustion. Yes, we need more doctors - but unlocking that 40% of the day to focus on medical work is a short-term impact leverage point to improve the health of the health system.
💸 Cooler health heads. As investors in healthcare, we’re not the only ones thinking about these topics. In their H1 2022 funding breakdown, Rock Health reported R&D (i.e. biotech/techbio) took the #1 spot for the second year in a row and non-clinical workflow tools moved up from bottom spot to #4 out of 6. They also confirmed 2021 was an anomaly year, with over US$30b invested doubling the previous record, while 2022 has seen a return of cooler heads, smaller round sizes, and more focus on business fundamentals.
New paths
🤟 Tasmainian-based Sypkes Family Office is looking for a Chief Financial Officer.
🧠 Seer Medical is on the hunt for a General Counsel
✈️ Swoop is searching for a Graduate Mechatronics Engineer
📦 Sendle is seeking a Director of Marketing and Communications
🔌 Switch Automation is chasing for a Senior Cloud Developer
🔥 Also, check out our Giant Leap Fund jobs board for over 100+ available positions, or fill in our expression of interest form. There’s even more jobs at ethical companies on the global B-Work job board.
Community and connections
🧠 Seer Medical just scored investment from Breakthrough Victoria.
🧮 HEX featured on Sunrise talking about student outcomes at University.
🔌 Amber launched a major marketing campaign calling for people to “break up” with their “embarrassing ex”, fossil fuels.
🚀 Who Gives A Crap, Seer Medical, GlamCorner, Coviu, Goterra, and HEX, were recognised by the Australian as amongst Australia’s top 100 innovators.
🐮 Our Investment Manager, Charlie, highlighted impact startups to watch (and cowpats to avoid) in this profile in OnImpact. He will also be at the Bio Connections Conference in Melbourne on 25th July so come say hi if you’re there!
🤸🏽♀️ Our Partner Rachel Yang hosted a panel on demystifying “Gender Lens Investing”.
✨ Our Managing Partner Will Richardson and Partner Adam Milgrom are doing the Giant Warm Intro this year. Applications are open till July 27.
For the road
🌳 Over in climate land… Solar, batteries, data and EV’s dominated the US$26.8b invested into climate tech in H1 2022. Meanwhile, Qantas Super announced it is tipping $100m into the Clean Energy Finance Corporation.
💰A stark reminder on the gender pay gap. KPMG reported the current Australian pay gap represents $1b per week, with a 6-18% gap increasing as the roles get more senior. The report went on to detail that even in women-dominant sectors, such as education and training, they still hold less management positions.
🤸🏽♀️ Accelerating women leaders. The CEW scholarships provide women leaders with opportunities for further education to enhance their career. Application close on August 29th.
💌 Using tech for good? The annual fishburners Tech For Good Awards are open for entries. Get yours in before Sunday July 31st.
👼🏽 The next generation of Angels. Samuel Sentogos, a cybersecurity expert turned angel investor, is seeking generational change and representation of the black community by backing startups.
🫁 3D printing inside the body: Researchers at Concordia University have developed a form of liquid plastic that solidifies when it’s hit by body-penetrating sound waves. They are pioneering a new form of 3D printing that could eventually be used to replace invasive procedures to place implants and other bone replacements.
🕷️ World’s deadliest cure. A new heart-focused drug developed from the venom of the K’gari funnel-web spider is about to enter clinical trials. The ultimate aim of the new medicine is to become another tool first responders can use to prevent further escalation and damage from either a heart attack or stroke.
🍲 Toxic hotpot soup. China’s famous environmental artist, Nut Brother, is stirring the pot again to promote environmental action in the country. In his latest video piece, he’s created a toxic hot pot -- with inflatable fish and peppers -- in the Yueyang River.
🪒 Daily razors for the mind. Some good “razor” principles for choosing paths through life.