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More universities to join startup accelerator INCUBATE

Google to fund expansion of University of Sydney Union program

Founders of startups participating in INCUBATE's winter program. Credit: INCUBATE

Founders of startups participating in INCUBATE's winter program. Credit: INCUBATE

The INCUBATE startup accelerator at the University of Sydney will expand to other universities across Australia under a partnership with Google.

INCUBATE is a startup accelerator program developed by the University of Sydney Union. It was originally open only to students and alumni at the University of Sydney, but the Google partnership expands the program to new educational institutions across the country.

No participating universities have been announced, but INCUBATE said it is “seeking partner universities, student startups and experienced entrepreneurs to be part of this initiative”. Those interested can register on the INCUBATE website.

Google will provide financial support and access to the Internet giant’s technology, platforms and mentors. Also, the company said it will connect startups at the new hubs with entrepreneurs and help INCUBATE run a national demo day early next year to showcase the top startups from the program.

"INCUBATE has fostered the first startup community at Sydney University, helping launch 16 new startups and encouraging even more students to consider the entrepreneur path,” said INCUBATE program manager James Alexander.

“With Google's help, we want to take the accelerator program to other campuses to create Australia's first national network of global-thinking entrepreneurs at universities."

Google has been increasing its participation in the Australian startup scene of late. It is a founding member of the #startupAUS group and a leading organiser of the three-week Startup Spring festival that finishes on 9 October.

In other startup news, the ANZ Innovyz START accelerator has announced that its summer 2014 program is now open for applications from startups in Australia and around the world. Companies selected for the program will receive a $20,000 stipend, access to a $20,000 loan from ANZ Bank, and education delivery and support services valued at $500,000.

The summer 2014 program opens on 10 February and finishes 8 May. ANZ Innovyz START has been running out of Adelaide for 18 months, with two graduating classes and a third currently in progress.

The accelerators said that 60 per cent of the program’s graduates have raised nearly $2 million in seed and angel investment and secured contracts worth more than $2 million.

In addition to the START accelerator program for early-stage startups, ANZ Innovyz recently announced a BRIDGE program for companies that already have a business model and go-to-market strategy.

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Tags acceleratorsfundingANZ Innovyz StartIncubatestartupsGoogle

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