Sussex Innovation 2024 – the year in review

2024 has been another packed year of activity at Sussex Innovation, with new programmes launched, investment raised and exciting projects involving our members. Here are just a few of the headlines from the past twelve months.

University of Sussex spinout Stingray Bio started the year by entering an agreement with life sciences company ValiRx to test its early-stage cancer therapeutics. Using a target-based drug design approach, Stingray Bio has developed a lead series of molecules that could be a major breakthrough in the fight against cancer. During the preclinical evaluation, ValiRx will investigate the action of these molecules against a range of cancer types including breast cancer.

Throughout the year, the team has been hard at work delivering funded consultancy on behalf of the UK Shared Prosperity Fund. As well as research, strategic, financial and marketing consultancy, these projects have allowed small businesses and social enterprises to tap into the Sussex academic community. The funding was targeted towards founders from under-represented groups including women, people of colour and people with disabilities, as well as ideas focused on social and environmental sustainability.

In Knowledge Exchange news, two Sussex Innovation tenants won Innovate UK grants to collaborate with University of Sussex researchers. Emotion measurement and analytics technology company Emteq Labs worked with Professor Martin Yeomans from the School of Psychology on a project to help monitor food consumption and eating behaviours, while virtual sports gaming platform Fantasy Football Hub are working with Dr Ivor Simpson and Dr Oliver Thomas from the Sussex AI Centre of Excellence on an industry-first probabilistic deep learning model.

Artificial Intelligence and Adaptive Systems MSc student Dr. Shuaib Karmani achieved a remarkable feat by securing first place in both the Business and Social Impact Awards at the Startup Sussex 2024 competition in April. His venture, Nhealth.ai, a smart wearable patient health monitor, aims to save up to 50,000 lives annually and reduce NHS costs by £227 million each year.

That competition is just one part of the comprehensive student and graduate programmes at the University of Sussex, which received the 2024 National Enterprise Educators Award, recognizing its outstanding contributions to enterprise education. Among the innovative initiatives designed to develop entrepreneurial skills and mindsets is the annual incubator programme run by the Sussex Innovation team, which welcomed 20 new start-ups at the beginning of the autumn term.

More than £30m of investment was raised by Sussex Innovation members this year, including significant raises for respiratory disease drug development company Enterprise Therapeutics, digital healthcare transformation experts Definition Health, and automated parking technology business Hozah.

In October, investors from the University of Sussex Business Angels (USBA) played a role in a £1.1 million funding round for CybaVerse, a cybersecurity firm specializing in advanced threat detection solutions. This investment underscores our dedication to nurturing cutting-edge technologies that address pressing global challenges.

If you think that your organisation could benefit from working with Sussex Innovation in 2025, we’d love to hear from you – get in touch at sussexinnovation.co.uk/contact-us.