State government-backed venture fund Breakthrough Victoria has announced a new $7.5 million Breakthrough Fellowship Program, aimed at supporting researcher entrepreneur talent.
According to a statement from the organisation on Friday, the program aims to cultivate “the next generation of startup founders from Victorian universities and medical research institutes” and is predicted to “establish up to 50 new startup companies and create at least 50 jobs”.
The fellowship program will see BV invest “up to $150,000 per startup”. Each startup must focus on commercialising research conducted by the founders or associated university professors.
“This program bolsters Breakthrough Victoria’s strategy to back high-potential research and ensure it doesn’t lose momentum in the critical early stages,” said acting CEO Lauren Morrey (pictured.)
Applicants to the program must be current undergraduates, postgraduates, or recent graduates from a Victorian university or medical research institute. Investments will be made after successful graduation or PhD completion.
Between $60,000 and $90,000 from the investment must be used as a salary by a fellow. Remaining funds will support additional hiring or product development.
Full story: Breakthrough Fellowship Program aims to help researchers become founders – Australian Manufacturing Forum
