From Innovation to Business Success: How ThincLab is Supporting Startup Talent

Early-stage founders and ambitious entrepreneurs are turning bold ideas into reality, fuelled by the Adelaide Economic Development Agency (AEDA)’s support for a program that breaks down barriers to investment.

As part of a push to propel startups to success and ensure they are investor ready, AEDA has partnered with the University of Adelaide incubator ThincLab through its Strategic Partnerships Program.

ThincLab, via its ThincSeed Accelerator program, supports innovative ventures through a 13-week, tailored coaching program to help bring investments to market.

The program dives into multiple facets of creating a sustainable business structure—which includes market analysis, strategies, team development and financial modelling—and culminates in a pitch night where participants can promote their products to investors.

Participants can secure funding of up to $40,000 to bring their concept to life.

AEDA has awarded ThincLab $549,000 in funding over three years through its Strategic Partnerships Program, with the organisation aiming to support almost 90 startups in creating viable businesses.

ThincLab Incubator & eChallenge Manager Zrinka Tokic says AEDA has been instrumental in ensuring the long-term sustainability of the ThincSeed program.

She says investment in the sector shows that Adelaide is committed to innovation, which will help attract partners, investors and collaborators to the city.

“AEDA’s support has significantly expanded ThincLab’s capacity to assist more early-stage ventures, allowing a greater number of founders to benefit from structured support via ThincSeed,” Ms Tokic says.

“Funding for the Pre-Accelerator has also reduced barriers for new entrepreneurs, helping them validate ideas earlier and with less financial risk.

“By enhancing investor readiness, AEDA’s backing increases the likelihood that participating startups will secure further capital and continue to grow in South Australia.”

This year’s ThincSeed Pitch Night, held on 19 November at the National Wine Centre of Australia, saw nine entrepreneurs present their concepts to investors.

Participants included:

Affinyx
The company, founded by Stephen Blakeney, uses reproductive immunology research to improve IVF outcomes for men. This includes using an antibody that captures DNA-damaged sperm to increase fertilisation, implantation and reduce miscarriage rates.

FLDT
AnAI-powered customisation platform, founded by leather goods designer Katya Komarova. Customers can co-create premium, sustainable accessories and lifestyle items, such as leather bags made from vegetable-tanned leather that is laser-cut and hand-finished in Australia.

Lotis
Lotis' solo founder Bob Smart delivers AZON 23—a RagTech cloud platform that facilitates resilience management and supply chain governance. The platform is designed for Australian banks, insurers and super funds, and largely assists risk, operations and IT leaders.

Partsmen
Erfan Safiri and Romeo Nguyen have created a simple, reliable and affordable inventory system for car wreckers. It also allows for instant access to car parts for public purchase.

SA Nano
Led by Vincent Linden and Yue Hui, SA Nano Pty Ltd develops tools to support the next generation of medicine. Its first product was a practical lab tool to help scientists create nanoparticles to use in cutting-edge therapies such as mRNA vaccines and cancer immunotherapy.

TestInvest
Developed by Tom and Kristen Kubank, TestInvest aims to help businesses make smarter hiring decisions through targeted software skills testing. The business creates practical tests that reflect the tools and workflows candidates will use on the job. Businesses then receive clear, detailed reports showing strengths, weaknesses and role readiness.

Tutbob
Founders Amelie Parker and Fiona Goodsite have created an AI-powered Chrome extension that can change the way students engage with their learning, making it more accessible, engaging and effective. Tutbob provides real-time academic support through lecture transcriptions, automatic note-taking, simplified concept explanations, and personalised revision tools such as quizzes and flashcards.

USTYLER
Ustyler, developed by Mary-Kyri Zacharia, is a free fashion app that enables customers to design and create real garments in real time, with their pieces delivered to their door within 10 days. It offers creativity without limits and fast fashion without waste, with all garments made in South Australia.

Xylogic
Xyolgic has already patented an innovative technology where a green liquid is used as a leaching agent in metal extraction. However, its latest venture focuses on agricultural applications, where the company is pioneering a cost-effective, engineered cleantech solution aimed at substituting fossil-based chemical reagents for sustainable agricultural practices and metal extraction.

Ms Tokic says these participants, as well as past participants, are showing themselves to be “critical” to Adelaide’s economic growth.

“Programs like ThincSeed play a key role in supporting innovation and nurturing entrepreneurial talent within South Australia, helping to build a stronger pipeline of local capability,” Ms Tokic says.

“By developing confident, investor-ready ventures, the program attracts private capital and investment, strengthening Adelaide’s reputation as a dynamic, competitive and fast-growing hub for innovation.”

Adelaide's startup ecosystem grew 29.8 per cent from April 2024 to 2025, according to the Startup Blink Ecosystem Index.

It has climbed 15 spots in the most recent global rankings, now sitting at 217 out of 300 cities worldwide.

Dealroom, a platform that maps the growth of startup ecosystems worldwide, lists more than 780 verified South Australian startups, employing an estimated 7,400 people or more.

AEDA Business Investment Advisor Ben Kirchner says Adelaide is increasingly seen as the ideal launchpad for founders, combining lifestyle advantages with strong commercial fundamentals.

“Adelaide offers an incredibly supportive environment for budding entrepreneurs,” Mr Kirchner says.

“We have a tight-knit, innovative community, lower startup and operating costs, and easy access to coworking spaces that allow founders to scale flexibly.

“Across South Australia, innovation precincts are bringing together researchers, entrepreneurs and industry leaders to fast-track solutions to global challenges.”

Startups in Adelaide benefit from an integrated support ecosystem, designed to reduce barriers and accelerate growth.

This includes 32 co-working and innovation spaces, AEDA Business and Investment services, and innovation precincts such as Lot Fourteen and Adelaide Biomed City.

Adelaide also has a collaborative culture powered by meetups, hackathons, pitch events and peer-to-peer networks that make it easy for founders to plug in and grow.

Find out more about ThincLab here.