AI and deep-tech research program receives $400K grant

A program designed to help scientists transform AI and deep-tech research into commercially viable ventures has received a $400,000 Victorian Pre-Accelerator Grant. The funding for the Future Frontier AI & Deep-tech Pre-Accelerator Program (Future Frontier), delivered by Monash AI Institute and Illume Ventures, was announced by Minister for Economic Growth and Jobs Steve Dimopoulos at the Victorian Startup Gala.

Developed by Monash AI Institute Director Professor Shonali Krishnaswamy and Dr Jyoti Joshi Dhall, in collaboration with Illume Ventures founder and director Laxmi Pun, the Future Frontier program seeks to translate world-class research into successful commercial ventures. Providing specialised training, mentoring and industry connections, the program is designed to help participants move from research discovery to venture creation.

“Many researchers have developed remarkable AI and deep-tech innovations, but building a successful startup requires a completely different set of skills,” Krishnaswamy said. “Researchers often haven’t had exposure to customer discovery, product-market fit, intellectual property strategy, building a founding team, developing a commercial roadmap, or preparing for investor engagement and funding rounds.

“Future Frontier is designed to bridge that gap. We want to help researchers understand what it takes to move from a promising technology to an investment-ready venture,” Krishnaswamy said. Supporting at least 80 researchers, founders and aspiring entrepreneurs seeking to commercialise their AI and deep-tech innovations, Future Frontier will deliver four 10-week pre-acceleration programs over the next two years.

You can learn more about the program at illumeventures.com.

Image: (L–R) Illume Ventures Founder and CEO Laxmi Pun and Monash AI Institute Director Professor Shonali Krishnaswamy at the Victorian Startup Gala, where LaunchVic’s latest Pre-Accelerator Grant recipients were announced. Source: Monash University