Since its launch in 2015, the ON program has grown from strength to strength attracting some of Australia's best and brightest in a bid to transform science and technology into real positive outcomes for Australia's future.
To continue the momentum the ON accelerator programs opened up nationally on 1 August, with new partnerships announced that will enable researchers from across Australian universities to fast-track their science and technology innovation through ON.
Twenty universities from across the country have so-far signed up as 'ON Partners' and through ON will have access to a structured experience to validate market opportunity and test business models to accelerate science and technology towards real world outcomes.
Under the two ON accelerators offered, researchers from each university will gain access to an extensive national network of mentors from across private industry and the investment community as well as business and commercial experts who can increase their entrepreneurial capacity and connect them with venture capitalists and investment funds to help convert their research to commercially viable outcomes.
Aussie universities have been wasting no time getting on board, with Macquarie University and Curtin University being the first two universities to take part in ON Accelerate, competitively securing two 'wildcard' spots. As part of the eleven teams who made up the ON Accelerate Cohort 2, they have just completed their three-month intensive course and recently showcased their innovations to a room of potential customers, partners and investors at the ON Accelerate demo night.
Macquarie University's team, 'Modular Photonics' pitched an impressive innovation for passive fibre-optic compatible technology that significantly increases data transmission capacity (10 times and more) and directly addresses the capacity crunch felt by many enterprises suffering due to ageing in-building fibre networks. Pro Vice-Chancellor (Research Performance and Innovation) at Macquarie University, Professor Peter Nelson said the ON experience is one of significant benefit and that they are proud to continue as a partner.
"The ON accelerator is an invaluable tool to get our teams out of their comfort zone, into the market and testing hypothesises and assumptions around their research and product," Professor Nelson said.
"It's one thing to incubate great ideas, it's entirely another to connect those ideas with customers, suppliers and partners and establish the venture capital blocks to build opportunity and an outcome.
"That's where innovation happens. That is where impact happens and, for most in the pursuit of great science and research, that is what we want to be remembered for in decades to come."
After such an impressive ON Accelerate 2 showcase, there is no denying that the future holds exciting prospects for impactful Australian science and technology innovation and as more universities get involved, we're looking forward to seeing what the next round of applicants bring forward.
Applications for ON Prime, a national pre-accelerator, are now open to researchers from Australian universities and publicly funded research agencies. Apply now!
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