The University of Queensland’s 2024 Ventures ilab Accelerator: Chapter 2 program has awarded 12 startups with $15,000 funding to help launch their early-stage ventures.
Now in its 19th iteration, ilab is one of the longest-running accelerator programs in Australia and has supported 290+ startups, creating 1,550 jobs and attracting ~$220 million in investment and grant funding.
Head of Entrepreneurship, Mr Nimrod Klayman said the teams started on the three-month intensive program this week.
"We are thrilled to return to running two ilab programs a year, with an increased investment of $15,000 and record 26 founders from diverse backgrounds."
"This cohort is set to be our most dynamic and innovative yet, and we can't wait to support these visionaries as they turn groundbreaking ideas into impactful ventures."
Program lead, Mr Tyson Jennings, said he is excited to welcome two new Entrepreneurs in Residence to the ilab Accelerator which promises to bring fresh perspectives and invaluable expertise to the program.
"Their guidance will significantly enhance the entrepreneurial journey for all participants."
Meet the teams
The 12 teams, including 26 founders are solving programs across diverse industries from artificial intelligence and social media to period care and delicious snacks.
- MUSHEE – Mushroom packaging using coffee waste and more
- Inoya – Toxin-free and sustainable period care for all
- Bach Technology Pty Ltd – Bach is a PaaS for managed cloud hosting
- APEX Fitness – Creating smart gym equipment for workout tracking
- Blunge.ai – Drawing made easy with AI
- Sunflower AI – AI live captioning and translation for events
- Knowa – Connecting hospitality businesses and suppliers
- Fortus – A social platform and workout tracker for gym-goers
- Lilo – A marketplace for buying and selling used furniture
- Power Pops – A new, healthy, and tasty way to snack
- Cauldron Today – A social media app for discussions and debates
- Speachy – Empowering the world to find their voice
The Ventures ilab Accelerator program provides funding, access to UQ’s global mentoring and investor network, workshops, guidance from UQ’s Entrepreneur in Residence, co-working space, and concludes with the ilab Pitch Night showcasing the teams innovations.
Save the date for ilab Pitch Night, 12 September 2024.
For more information about Ventures and opportunities please contact Tyson at t.jennings@uq.edu.au or ventures@uq.edu.au.
