Finalist

Innovation and Entrepreneurship Activators of the Year Award

UNSW Founders Program

Finalist of the Innovation and Entrepreneurship Activators of the Year Award

The University of New South Wales - Australia

"Empowering Ideas, Igniting Impact"


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Summary

UNSW Founders is Australia’s leading university-based entrepreneurial program, transforming groundbreaking research into impactful solutions. It offers comprehensive services to empower students, staff, researchers, and alumni. Programs like Health 10x and Climate 10x address global challenges through affordable health solutions and climate tech innovations. With strong industry partnerships, extensive mentorship, and a supportive ecosystem, UNSW Founders has enabled startups to raise over $175 million, create 500+ jobs, and achieve a total enterprise value of $0.67 billion. The support provided by UNSW Founders is free and philanthropically backed, offering guidance and opportunities to the entire UNSW community. In 2023, the program facilitated over 12,850 events and skill-building workshops and delivered more than 2,300 free business coaching sessions, supporting 618 unique teams. Additionally, 300 new companies were incorporated, with 48% having at least one female co-founder, surpassing the national average of 22.3%. Partnerships with organisations like Westpac provided $75,000 in grants and sponsorships to women and non-binary founders. The Liverpool Entrepreneurship Program, a $700k initiative, drives entrepreneurship in Southwestern Sydney, supporting founders from culturally and linguistically diverse backgrounds in delivering social impact solutions. The New Wave program, dedicated to women’s entrepreneurship, provided a safe space for over 123 female participants in 2023 to share ideas and learn, underscoring UNSW Founders’ commitment to fostering inclusive innovation.

Key People


David Burt
Director of Entrepreneurship
Division of Research & Enterprise,  The University of New South Wales



Dina Titkova
Senior Manager of Entrepreneurship (Startups)
Division of Research & Enterprise,  The University of New South Wales



Kristen Phillips
Senior Manager of Entrepreneurship (Ideas)
Division of Research & Enterprise,  The University of New South Wales



Nina Juhl
Senior Manager of Entrepreneurship (Curiosity)
Division of Research & Enterprise,  The University of New South Wales



Beste Onay
Portfolio Manager
Division of Research & Enterprise,  The University of New South Wales



Caitlin Co
Program Coordinator
Division of Research & Enterprise,  The University of New South Wales



Sasha Whittle
Program Manager 10x All Industries
Division of Research & Enterprise,  The University of New South Wales



Joseph Po
Program Manager Health 10x
Division of Research & Enterprise,  The University of New South Wales



Maddison McCoy
Program Manager Bio 10x
Division of Research & Enterprise,  The University of New South Wales



Eléonore Cluzel
Program Manager Health 10x
Division of Research & Enterprise,  The University of New South Wales



Eleni Assargiotis
Program Manager Climate 10x
Division of Research & Enterprise,  The University of New South Wales



Julie Pham
Program Manager Climate 10x
Division of Research & Enterprise,  The University of New South Wales



Shuoyan Shu
Program Manager Liverpool Innovation Precinct Health Entrepreneurship Program
Division of Research & Enterprise,  The University of New South Wales



Zac Rafidi
Business Analyst
Division of Research & Enterprise,  The University of New South Wales



Victoria-Rose Tucker
New Wave Program Manager
Division of Research & Enterprise,  The University of New South Wales



Georgia Lyons
Peter Farrell Cup Program Manager
Division of Research & Enterprise,  The University of New South Wales



Priscilla Tan
Prototypes Manager
Division of Research & Enterprise,  The University of New South Wales



Hayden Moore
Bits & Atoms Program Manager
Division of Research & Enterprise,  The University of New South Wales



Bryony Tottey
Bits & Atoms Program Manager
Division of Research & Enterprise,  The University of New South Wales



Rita Wu
Startup Year Program Manager
Division of Research & Enterprise,  The University of New South Wales



Matt Macdonald
Michael Crouch Innovation Centre Operations Manager
Division of Research & Enterprise,  The University of New South Wales



Hamish McFarlane
Michael Crouch Innovation Centre Makerspace Coordinator
Division of Research & Enterprise,  The University of New South Wales



Mariana Luis Castillo Patron
Comms & Engagement Officer
Division of Research & Enterprise,  The University of New South Wales



Arash Atashnama
Investment Analyst
Division of Research & Enterprise,  The University of New South Wales


Acknowledgements

• In 2015, Michael Crouch’s generous donation and vision to “find a better way” led to the creation of a unique space at UNSW - the Michael Crouch Innovation Centre (MCIC). Today, as the heart of the Founders Program, the MCIC is a bustling hub where student entrepreneurs, innovators, and makers learn to use state-of-the-art Makerspace equipment, from laser cutters and 3D printers to a variety of shop tools, facilitating the prototyping of start-up ideas and entrepreneurial ventures.

• In 2017, Dr. FF Wong and Maha Sinnathamby's visionary contributions were instrumental in establishing our flagship Founders 10x Accelerator program. To date, this initiative has supported and provided seed investment to 107 high-impact startups.

• The ongoing support from Peter Farrell and the Farrell Family Foundation is another cornerstone of our success. Their generosity powers the annual Peter Farrell Cup (PFC), UNSW’s most prestigious student-led, team-based competitive ideas program. Now in its 21st year, the Peter Farrell Cup is fast-tracking the next generation of entrepreneurs by providing access to the knowledge, tools, expertise, and learning environment essential for their ideas to thrive.

• Chris Baxter, Managing Director of Baxter IP, has been a steadfast supporter of the UNSW Founders program. His involvement helped establish the Entrepreneurial HDR program (eHDR), a comprehensive suite of workshops designed to equip higher-degree research students with essential entrepreneurial skills.

• In 2022, we welcomed veteran entrepreneur Gary Zamel as our Entrepreneur-in-Residence, succeeding UNSW’s 2021 Entrepreneur-in-Residence Trevor Folsom. Zamel’s contributions are aimed at directly supporting the startups emerging from our program, all of which are dedicated to solving real-world challenges in health, education, security, and beyond.

• This year we were thrilled to announce our partnership with Westpac for 2024. This sponsorship provides crucial financial backing for promising founders through dedicated pitch prizes and scholarships. This non-dilutive funding support is designed to address barriers that women founders may experience when pursuing their startup full-time, including those who may struggle to balance family and work commitments and access capital for business growth. It can also help cover their cost of travel or supplement income when undertaking the 10-week 10x Accelerator program.

• Finally, we acknowledge UNSW and Vice-Chancellor Attila Brungs for embracing entrepreneurship among the top three strategic priorities. This rare and courageous commitment has fostered a thriving entrepreneurial ecosystem at UNSW, empowering countless innovators to transform their ideas into impactful solutions. Their visionary support highlights UNSW’s leadership in solving society’s most pressing challenges through innovation and creativity.

Images

David Burt Interviewing Founder at monthly community event

Liverpool Digital Makers Free Workshop -LIP Program

Mentorship & Networking Event

Networking & Community

New Wave & Westpac International Womens Day Event

New Wave Women's Entrepreneurship Program

Pre-Accelerator Pitch Event

Standing room only at monthly community event

Startup Year Program Cohort with David Burt

UNSW Founders Team

IMPACT STORY

Impacting lifes

Dr. Peter Ayre, an engineer with limited knowledge about startups, once considered abandoning his innovative idea. However, through the support and education provided by the Health 10x program, Dr. Ayre was able to bring his vision to life. He founded CardioBionic, a startup dedicated to revolutionising cardiac care. Health 10x provided him with critical resources, including funding, mentorship, and networking opportunities. This innovation not only promises to save countless lives but also exemplifies the profound impact of UNSW Founders in turning ambitious ideas into reality.

Every year, 26 million people are diagnosed with heart failure around the world, with 9 million reaching end-stage heart failure. Out of these, 1 million people die annually, with only 10,000 heart assist devices and 5,000 heart transplants available each year. Dr. Ayre decided to change this by co-founding CardioBionic, developing affordable heart assist solutions. With a long journey in med tech, co-authoring multiple patents, and consulting for leading companies, Dr. Ayre completed his PhD at UNSW and later the Health 10x Accelerator Program in 2019, launching CardioBionic.

Dr. Ayre was inspired to create CardioBionic after meeting Dr. KR Balakrishnan in Chennai, who questioned the high cost of current technology. Together, they developed affordable, portable, and wearable heart assist devices. Now, CardioBionic is advancing through testing phases with the Victor Chang Institute and St Vincent’s Hospital. Their mission is to drive costs down, making life-saving technology more accessible, and changing the grim statistics of heart failure.

LEARNINGS

Lessons learned

One key learning from our journey at UNSW Founders is the immense value of cross-disciplinary collaboration. Bringing together researchers, entrepreneurs, and industry experts can lead to innovative solutions that might not emerge within siloed disciplines. David Burt, UNSW’s Director of Entrepreneurship, emphasises the importance of building people’s self-belief and agency. According to Burt, many students and staff initially see successful entrepreneurs on stage and get inspired to explore their own potential. This first stage of curiosity and awareness is critical in building a foundation for entrepreneurial success.

For those looking to follow a similar path, we advise focusing on building a strong support network. Mentorship and industry partnerships can provide invaluable guidance and open doors to new opportunities. Another unexpected but crucial lesson is the importance of resilience and adaptability. Startups often face unforeseen challenges, and the ability to pivot and adapt is essential for long-term success.

Lastly, fostering an inclusive environment where diverse voices and ideas are welcomed can significantly enhance creativity and problem-solving capabilities. At UNSW Founders, we have created programs like New Wave, which provide a safe space for women to share their ideas and learn. Such initiatives have shown that when people from diverse backgrounds come together, they can drive significant innovation and societal impact.

In summary, building self-confidence, leveraging a strong support network, and fostering an inclusive environment form the backbone of successful entrepreneurship. This approach not only nurtures individual growth but also contributes to solving broader societal challenges.

FUTURE PLANS

What's coming?

Looking ahead, UNSW Founders is committed to expanding our impact on a global scale. We aim to launch new accelerator streams focused on emerging technologies and industries. Our goal is to support 500 new startups annually by 2035, significantly increasing our current capacity. We also plan to enhance our international presence through strategic partnerships and global programs, such as the UNSW Founders Singapore Landing Pad, which provides an entry point for startups to explore expansion into ASEAN markets. Additionally, we will continue to prioritise diversity and inclusion, ensuring that underrepresented groups have access to our resources and opportunities. By doing so, we aim to drive meaningful change and contribute to solving the world's most pressing challenges through innovation and entrepreneurship.


KEY STATISTICS

12,846

Attendees in programs and events in 2023

2,300

Number of free 1:1 coaching and mentoring sessions provided in 2023

$4 million

Invested into 23 Startups through the flagship UNSW Founders 10x Accelerator

$175 million

In capital raised by UNSW Portfolio Startups since 2017

500+ jobs

Created since 2017

$0.67 billion

Enterprise Value of 10x Alumni

300

New companies incorporated through UNSW Founders Programs in 2017

48%

Of new companies incorporated in 2017 had at least one cofounder who identified as a woman, surpassing the national average of ~22.3%.

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