Investment NSW executive director of innovation Liza Noonan will take the reins of Cicada Innovations next month to lead the 25-year-old deep tech incubator’s new era.
Ms Noonan leaves the NSW public service having established a 10-year Innovation Blueprint and a plan to revamp the Tech Central district where Cicada is headquartered.
The Minns government will launch a $20 million state commercialisation fund for deep tech later this year as part of the new innovation plans, which are in part designed to make up for private investors’ traditional focus on software startups.
Cicada itself has supported over 400 deep tech startups and helped to raise over $6 billion in funding. It now runs several accelerator programs and showcases 23 of the most promising startups every year at its Tech23 event.
In a statement, Ms Noonan said the Cicada is backing founders at a time when other parts of the innovation ecosystems catch on to the value of deep tech like robotics, hardware and medical devices.
“In 2024, two-thirds of venture deals in Australia were directed towards deep tech, so momentum and funding is flowing,” she said. “But there’s still work needed to position Australia globally.
“Deep tech requires time and patience – not only because the science is so new, but because the problem space is highly complex. As a result, founders need more than just investors; they need access to industry groups, public policy networks, regulatory guidance, and global peers.”
Ms Noonan has also led the CSIRO’s global operations and On Accelerator program, and earlier in her career led Nokia’s local innovation program before serving as founding CEO of Springboard Australia, a female founder focused accelerator.
“What unites the facets of Liza’s career is a clear through line: a commitment to building vibrant, inclusive and connected innovation ecosystems,” Cicada Innovations chair Katherine Woodthorpe said.
“This is work that closely aligns with Cicada’s mission to grow Australia’s deep tech economy and support ventures tackling society’s greatest challenges. We’re confident Liza will bring the right vision and momentum to lead Cicada’s next stage of growth.”
Ms Noonan replaces Cicada’s six-year leader Sally-Ann Williams, who departed in June after expanding the incubators offerings with new facilities across Sydney and Melbourne for biotechnology, health tech and space. Ingrid Marsh is acting chief executive.
“I believe that over the next 5-10 years Cicada can become a leading force in accelerating transformative, science-based innovation – particularly across the Indo-Pacific,” Ms Noonan said.
“We can do this by becoming the destination and community of choice for deep tech founders, and by providing the critical inputs they need to scale on their own terms. I’m excited to lead action towards this vision.”
Do you know more? Contact James Riley via Email.