In 2012 we launched an experiment: the first university-based student accelerator program in Australia.
Five years ago, few people believed students were interested in entrepreneurship or able to launch a startup. But over 80 startups later we continue to see that students make highly creative and effective entrepreneurs, and supporting dedicated student entrepreneurs to become fully fledged startup founders is a critical component of any university ecosystem.
From an experiment to the multi-award winning program of today, INCUBATE has grown and developed thanks to the forward-thinking support of the University of Sydney Union, and now in partnership with the University of Sydney.
From the University of Sydney Chancellor Belinda Hutchinson, AM
“The University of Sydney is a very proud supporter of INCUBATE. The program has become an important component of the University’s education and research strategies in enabling our students to accelerate the development of their bold and innovative ideas to create new businesses.
The success of INCUBATE is inspirational, with startups already making their mark not only in Australia but globally. I congratulate the founders, staff, mentors, sponsors and of course our entrepreneurial students on a highly successful first 5 years for INCUBATE and we look forward to celebrating many more.”
Our achievements
“The success of INCUBATE is inspirational, with the startups already making their mark not only in Australia but globally.”
— Belinda Hutchinson, AM
1. Creating Australia’s largest student startup accelerator
Students are impactful entrepreneurs. We’ve backed their ambitious ideas to help launch 80 startups.
Creating solutions for hard problems and launching real businesses is our focus every day.
Over the last five years INCUBATE is proud to have:
- Directly grant-funded and supported 162 founders,
- Supported students to launch 80 early stage startups and;
- Created over 200 jobs through our multi-award winning accelerator program.
INCUBATE is trailblazing how universities support their students with on-campus startup programs in the Asia Pacific.
“Incubate has been invaluable. It provided us the confidence and support for us to keep building in the early stages, something few others will provide to 20-year-old students trying to build a global company.”
— Jaden Harris, Co-founder at Forever Network (Class 6)
2. Transforming researchers to entrepreneurs
Helping translate knowledge from the lab to the world with over 20 new companies
We help transform researchers into entrepreneurs.
From medical devices to drones, robotics and consumer products; student knowledge and research creates a powerful type of entrepreneur that pushes the limits of technology and creates high-value jobs.
25 percent of our startups come from research backgrounds and have received more than $8 million in external funding.
INCUBATE’s independent student union (USU) model is unique in complementing the university efforts to enable researchers to become entrepreneurs and launch their first company while on campus.
“INCUBATE took us out of our ivory tower and comfort zone, making us understand customer needs. As of 2017, we have a regulatory approved device for sale in Australia, and are looking to scale globally.”
–Prof. Paul Keall, Co-founder at Opus Medical and Professor, The University of Sydney (Class 4)
3. Facilitating education you can’t get in a degree
Through our four programs we’re teaching students from all disciplines how to execute on their ideas and rounding this education out with hundreds of mentoring hours per year
INCUBATE is helping change the dialogue on what it means to teach entrepreneurship. We believe any student from any degree can become an entrepreneur and our methodology is as much about practical skills as it is about coaching the students to have the same psychological mindset of successful entrepreneurs.
Through our 14 week accelerator, INCUBATE, and pre-accelerator, proto, we’re making entrepreneurship more accessible.
Theory from the classroom coupled with skills, entrepreneur mentoring and coaching, creates a powerful force only possible through our extra curricular programs.
“It never stops to amaze me how a small act of guidance can unleash such potential!”
–Petra Andren, Mentor and CEO at Cicada Innovations
4. Creating a new career path for students and fostering entrepreneurial leaders
Recognising our entrepreneurs create impact in their own endeavours and future businesses
Our entrepreneurs’ businesses have helped create over $50 million in value.
While most people get put off by the high level of risk in launching a startup, we focus on the opportunities it creates. Even researchers who do not proceed with their business end up being far more valuable in the lab.
Our startup founders, whose first businesses don’t work out, can turn into key ecosystem members at other great startups and companies with roles in product, marketing, operations and investment.
Launching a startup unlocks opportunities traditional pathways cannot access.
“I can truly say INCUBATE was one of the most valuable times of my career. You don’t learn hustle in the classroom, you learn it hitting the ground in programs like INCUBATE”
–Mike Williams, Previous Co-founder at JobGPS (Class 2) and now at Canva.com
5. Redefining university as an enabler of entrepreneurship
Creating a community of 3000+ entrepreneurs, mentors and supporters
INCUBATE is at the centre of one of the largest university entrepreneur communities in Australia — with over 3000 members and 100 mentors and industry supporters.
We’re helping redefine the role universities play in supporting and linking students with experienced entrepreneurs, industry partners and further opportunities.
“The quality of the program keeps improving, fostering better founders and startups every batch. It’s a wonderful feeder to the entire eco-system”
— Jeremy Kwong-Law, Previous founder at Vistr (Class 3) and now at Grok Ventures
Thank you to our 100+ program mentors. Our program would not be possible without your time, energy and expertise.
We also want to acknowledge our Resident Entrepreneurs for their work with our startups over the last five years: Mike Nicholls, Shane Herft, Natasha Rawlings, Nick Tong, Mark Pesce and Liz Kaelin.
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