Why governance matters here
Proto Axiom operates the platform and also manages its own investment portfolio, and governance must separate these roles clearly.
SME selection for the incubator must be open, competitive, and free from conflicts of interest.
Universities, clinicians, and investors need assurance that the platform operates with institutional-grade probity.
Government co-investment requires governance that meets public accountability standards.
Governance principles
Four commitments that structure how decisions are made.
Independent selection
Open and competitive processes
SME selection through open competitive processes with external reviewers. Proto Axiom team members with conflicts of interest are excluded from selection decisions for affected ventures
Conflict-of-interest protocol
Disclosed and managed conflicts
Written protocol governing how conflicts are identified, disclosed, and managed. Applies to selection, funding allocation, and partner introductions
Tiered governance structure
Separation of oversight, review, and delivery
An Advisory Board for strategic oversight and probity, an independent Investment Review Committee that assesses applications and recommends funding decisions, and expert panels — scientific, strategic, clinician, and consumer — supporting selection and incubation
Transparency and reporting
Accountability to stakeholders
Regular reporting to funders, partners, and stakeholders on selection outcomes, milestone achievement, and use of funds
Committee structure
Governance is organised in tiers with distinct remits: an Advisory Board for strategic oversight and probity, an independent Investment Review Committee that assesses applications and recommends funding decisions, and four expert panels providing scientific, strategic, clinical, and consumer review. Funding decisions follow a documented decision-rights framework that separates review, endorsement, and approval — meeting the standards expected by institutional partners and government co-funders.
Chair and Non-Executive Directors appointed; further directors being recruited
WHF Advisory Board
Strategic oversight, governance and probity for the Foundry. Reviews and endorses Investment Review Committee recommendations, with accountability to funders and partners.
Composition. Independent Chair plus directors with clinical, academic, financial, and public-interest expertise.
- Chair — Sue MacLeman
- Non-Executive Director — Professor Victoria Cogger
- Non-Executive Director — Liza Noonan
- Non-Executive Director — Professor Robyn Norton AO
- Non-Executive Director — Dr Steve Burnell
- Finance and audit director
Constituted
Investment Review Committee
Independent committee responsible for assessing applications, reviewing stage-gate milestones, and recommending funding decisions. Separated from the operator function to maintain selection integrity.
Composition. Members drawn from leading Australian and international life-science investors, university commercialisation offices, and industry. Conflicted members are excluded from affected decisions under written protocol.
- Independent investor members — Australian and international life-science funds
- University commercialisation members
- Industry and external-innovation members
Being convened
Expert panels
Four standing panels provide domain review across selection and incubation, including direct engagement with ventures during due diligence. Clinical and consumer representation is matched to the needs of each SME.
Composition. Senior scientists, industry strategists, practising clinicians, and consumer representatives.
- Scientific Advisory Panel
- Strategic Advisory Panel
- Clinician Panel
- Consumer Panel
Recruitment for the remaining Advisory Board seats and the expert panels is ongoing. Expressions of interest from qualified individuals are welcome via the register interest form.
Board and operator team
Inaugural Board Chair Sue MacLeman, Non-Executive Directors Professor Victoria Cogger, Liza Noonan, Professor Robyn Norton AO, and Dr Steve Burnell, and the day-to-day operator team are profiled on the About page under Leadership.