Launching a startup at a university isn’t your traditional pathway. In many ways, completing a degree or being an academic researcher is counterintuitive to taking the leap into entrepreneurship.
For starters, getting a job with a degree certificate in hand seems more realistic than launching a successful venture. I mean, what kind of qualification do you even need to start a company? Then there’s the issue of money. Who pays for your new idea, and who gives you a paycheque?
Yet some of the most revolutionary companies in the world began as a twinkle in the eye of an ambitious undergrad or a passionate researcher. In fact, a recent study by the Startup Muster found that four out of five Australian startups are run by graduates from universities – so universities could be the powerhouse of Australia’s startup economy.
To that end, Monash has developed the Generator – a central hub that enables the creation and growth of startups within Monash. Open to staff, students and alumni, the Generator runs an intensive three-month Accelerator Program each year, providing up to $10,000 in seed funding, mentoring, dedicated co-working space and access to investors to grow and scale your startup or social enterprise.
For the second year running in this format, the alumni of the Accelerator Program are proof that hard work pays off. From multiplying sales, securing enterprise deals and changing the course of their business trajectory, the program generates results. Home-grown Flux.qa, founded by education technology PhD student Nathan Sherburn, has gone from PhD project to a legit business, securing deals with education institutions to roll out his interactive polling software to tens of thousands of students.
Ten teams will be offered a place in the 2018 Accelerator Program, with successful teams receiving:
- $10k seed funding
- three-month program support from 25 June to 28 September
- dedicated co-working space
- access to a network of successful entrepreneurs.