The founding story of Immobazyme is deeply rooted in connection, curiosity and a shared passion for science. Dominic Nicholas, Ethan Hunter and Nick Enslin, now co-founders of a groundbreaking biotech company, met during their Honours year at Stellenbosch University (SU), where they developed a shared interest in Biotechnology. As their research deepened and they began increasing their practical applications, they would discover a novel approach enzyme immobalisation that is cost-effective and sustainable.
Having developed an interest in science during their formative years, the trio understood from an early age that an undergraduate in science would be just the beginning of their academic pursuits. They also understood that they would need to pursue their postgraduate studies in order to apply their theory and experiment to make new discoveries. Despite the limited opportunities within the Biotech industry in South Africa, they remained optimistic and continued their Honours and Masters degrees. It was in fact, during their Masters programme, after completing a project, that they gathered around the table for a drink and began a discussion that would spark their entrepreneurial endeavours.
“We started speaking about the potential for immobilising enzymes and how businesses use this process to make products – then we thought, well, why not create a solution for immobilising enzymes that’s cheaper and more readily available. That’s when Dominic shared his idea for forming a company. It was almost like, how can we democratise the system to empower businesses, which will in turn stimulate job creation, economic growth and socio-economic development,” says Dominic.
Soon after, they engaged with Innovus Technology Transfer Office to begin the patenting process, and they secured a funding grant from the University Technology Fund (UTF). This grant would later expand into a large seed investment through a co-investment scheme by the UTF and an undisclosed angel investor. With the funding secured, the trio were challenged with having to run a business full-time with little to no prior entrepreneurial experience.
Transitioning from scientists to entrepreneurs was not what they had imagined at the beginning of the Master’s when they were simply researching different uses for enzymes. They quickly realised they had a lot to learn about managing a business such as managing cash flow and procuring equipment – challenges they had not anticipated as new founders. However, through these experiences they learnt how to become better business owners.
The trio admits to needing a significant amount of practical business skills, but that was remedied through their enrollment with SU Launchlab, the university’s business incubator. After enrolling in LaunchLab’s ‘Countdown’ and ‘Lift-off’ incubation programmes, they felt better equipped with the practical skills that are essential for running a business and succeeding as entrepreneurs.
Immobazyme was founded in 2019 and initially operated out of SU LaunchLab, utilising free laboratory space from the Institute of Plant Biotechnology at SU. Today, they have their own premises, employ 12 staff members and have recently secured $1.3million in investment. To date, their total investment raised stands at R24.5million.
The friends turned co-founders continue to expand their enzyme research while growing the company. They are also actively engaged in the South African Biotech community and has partnered with UVU Bio to host Catalyst – a pitch competition designed for early-stage startups, with the specific aim of empowering South Africa’s biotech ecosystem.
Some of Immobazyme’s recent advancements are expanding their offering in the food and beverage industry through the development of various novel food ingredients that have been produced through their precision fermentation technology.
To find out more about Immobazyme and what they do, click here.