The Breakthrough Fellowship Program is a $7.5 million, multi-year initiative aimed at fostering research entrepreneurship in Victoria. It is projected to establish up to 50 new companies and create at least 50 jobs, thereby nurturing entrepreneurial talent and enhancing future investment pipelines.
THE INVESTMENT
The Investment | Noor E Karishma Shaik, DeepDerm |
Investment Vehicle | Fellowship |
BV Investment | $150,000 |
THE PROBLEM
Skin cancer is the most common cancer in Australia, with 2 in 3 Australians expected to be diagnosed in their lifetime, and early detection is critical. However, diagnosis often relies on invasive biopsies, which can be painful, costly, and inaccessible - especially in rural and remote areas. Approximately 1.4 million skin biopsies are performed in Australia each year for suspected skin cancer.
This figure reflects the scale of diagnostic activity and highlights the burden on both the healthcare system and patients.
THE SOLUTION
Founder Noor E Karishma Shaik (Research Fellow at University of Melbourne) is developing a new AI tool, DermAI that can detect skin cancer non-invasively through high-resolution images for frontline healthcare, especially rural communities. This tool aims to pathology-grade classification with just a click, eliminating the need for biopsies.
THE POTENTIAL IMPACT
Of the approx. 1.4 million skin biopsies performed in Australia each year, a significant portion - up to 40% - of these biopsies are later found to be benign, costing the system over $400 million annually. DeepDerm could revolutionise skin cancer screening by making it faster, cheaper, and more widely available. It has the potential to save lives through earlier detection and reduce healthcare burdens, particularly in underserved regions.