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Regional Victorian business will have access to global opportunities, networking and mentorship thanks to new funding granted to the La Trobe University Global Markets Accelerator Program.
The unique initiative is run across Melbourne and regional Victoria, funding entrepreneurial innovation and provides La Trobe students, researchers, alumni and the wider community with the opportunity to develop their ideas into viable businesses.
Last week, the Department of Industry, Innovation and Science announced $337,800 in Incubator Support funding for the initiative, which is an extension of the La Trobe University Accelerator Program.
The new money will further help the program to boost the growth and commercialisation potential of Australian start-ups, particularly in regional areas where the University has a strong presence – Bendigo, Mildura, Shepparton and Albury-Wodonga.
The fourth cohort of La Trobe Accelerator Program startups – which includes 21 businesses – will complete on 5 December. To date, 36 startups have transformed their ideas into sustainable businesses.
Accelerator Program Director Dr Cerasela Tanasescu said the program opens new possibilities to Australian startups by immersing them in big innovation and technology transfer hubs but also facilitating access to emerging markets.
“La Trobe will support the startups with resources to adapt and adjust their products to these new markets. Our partners will bring their strong experience, network and funding possibilities,” Dr Tanasescu told The Educator.
“We also expect La Trobe students, and in particular our international students, to be part of the teams that help these ventures in achieving their goals, by supporting the startups to undertake a four-week feasibility study to access these new global markets, or by getting involved in the product development of these ventures.”
Professor Jessica Vanderlelie, La Trobe University Acting Deputy Vice-Chancellor (Academic), said innovation and entrepreneurship are cornerstones of the University’s teaching and learning strategy.
“In 2020, we are embarking on an exciting transformation of our courses and the ways we deliver learning,” Professor Vanderlelie told The Educator.
“This will see increased opportunities for students to engage with industry and explore innovation and entrepreneurship as part of their degree and connect them more deeply to our accelerator program.”