ilab Accelerator

Take your venture to the next level with our ilab Accelerator program.

During the four-month program (December to March), each startup team receives $10,000 funding to help get you ready for the market and become attractive to investors. You will work closely with our Entrepreneurs in Residence and have access to our extensive mentor and investor networks, as well as workshops, industry events and co-working space. Founders from all disciplines are encouraged to apply – from social impact and fintech to mining and health. Open to all UQ students, recent alumni, and staff.

Applications for Ventures ilab Accelerator are now closed.

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ilab Accelerator 2024 program will run from December 2023 to March 2024.

Weekly contact days include:

Founder updates to the cohort
Talks from industry experts, founders and Entrepreneurs in Residence e.g. IP, agreements, marketing, team building, partnerships, founders’ stories.
Structured program and mentoring with Entrepreneurs in Residence and industry mentors
Founder health and wellbeing

Throughout the program your team will have access to:

24/7 co-working space and makerspace
regular seminars supporting early-stage startups
mentors, our Entrepreneur in Residence and a network of professionals and potential investors
partnership benefits from Google, Microsoft, AWS, Hubspot, Matlab, Makerspace and more.

Each startup accepted into the program will receive $10,000 in funding.

Pitch Night event to be held in mid March to showcase founders to the ecosystem and investor network.

Get ready for ilab 2024
Date: Thursday 14 September
Time: 11am-12pm
Venue: Ventures Space, Ground Floor, Global Change Institute (Building 20), St Lucia Campus

Fireside Chat with ilab alumni and EiRs: Zoe Black and Marc Orchard
Date: Wednesday 27 September
Time: 5-6pm
Venue: The Atrium, Room 223, 308 Queen Street, Brisbane City

ilab Accelerator application tips with past cohort members
Date: Tuesday 10 October
Time: 10-11am
Venue: Online on Zoom

ilab Accelerator information session
Date: Thursday 19 October
Time: 12-1pm
Venue: Online on Zoom

ilab Accelerator information session
Date: Thursday 19 10 October
Time: 5-6pm
Venue: Online on Zoom

We are looking for passionate and committed founders who have validated their value proposition, an initial sustainable business model and a solution.

When you apply you will need to provide evidence of customer interviews, market research and business modelling. Having a minimum viable product is ideal, but is not required to join the program.

At least half of your team members must be part of the UQ community by either being a:

current UQ student
UQ alum
UQ staff member or researcher

Overview and Terms and Conditions View Agreement

You will be required to sign the ilab Accelerator Agreement to participate in the program. Please review the agreement document. Participating in the Accelerator program is a full-time commitment.

Founders are expected to participate in at least 90 percent of the provided workshops and accountability sessions. Lower participation may result in the team losing their funding and being removed from the program.

Application Process

Places in the Accelerator program are highly competitive. Founders must complete a four-stage application process to be accepted into the program.

Stage 1. Online application and video
You will be required to fill out an application, due 12pm (AEST) Sunday 22 October 2023, outlining evidence of customer interviews, market research and business modelling. Your team will also be required to submit a short video introducing the team.

Stage 2. ilab Selections: First round interviews
Shortlisted candidates from Stage 1 will be invited to participate in a selection process of first round interviews. Founders will pitch their business to our selection committee of experienced entrepreneurs and mentors. Followed by a series of interview questions. Interviews to take place 2-3 November 2023 at Ventures Studio in Long Pocket, please note you only need to be available for your allocated interview time slot.

Stage 3. ilab Selections: Second round interviews
The candidates from the first round of interviews will be narrowed down further and the successful candidates will be invited to the second round of interviews during the following week. These interviews are designed to probe further into your company and provide advice and feedback on how the founders might fit in the Ventures ilab Accelerator program. Interviews to take place 9-10 November 2023 on St Lucia campus, please note you only need to be available for your allocated interview time slot.

Stage 4. Successful startups notified
The selection committee will decide on the final cohort based on Stage 3. Startups will be notified on Friday 13 November 2023. Successful teams will be required to sign the ilab Accelerator Agreement prior to starting the program.

Each selected team will receive $10,000 in funding from program partner UniQuest via a Simple Agreement for Future Equity (SAFE agreement).

A Simple Agreement for Future Equity (SAFE) is a flexible agreement between an investor (UniQuest) and the startup where in exchange for upfront money, the investor gains a contractual right to convert that amount into shares in the future when a pre-agreed trigger event occurs.

This funding will be made up of a series of three (3) tranche payments throughout the program aligned to achievement of monthly milestones (December, January, March). Startups are required to make continual progress against regularly reviewed milestones to receive tranche payments. Should a startup be terminated from the program, their tranche payments will immediately cease.

Please seek your own independent advice before entering into this agreement. UQ is not responsible for you and/or your companies’ independent financial situation.

Find out more about funding in the terms and conditions.

ilab Accelerator

Application Process

Resources

2023 Winner: Herik Labs