Victorian university researchers who want to turn their work into a startup can apply for Innovation Victoria’s next fellowship intake, which offers up to $150,000 to build a new venture. The July 2027 cohort is accepting expressions of interest, with applications closing on April 2 next year and shortlisted applicants interviewed in May. The $7.5 million program supports researchers to commercialise their work as individuals or teams.
Program Overview and Funding
• Fellowship value: Up to $150,000 to build a startup
• Cohort start: July 2027
• Total program budget: $7.5 million
• Funding instrument: Convertible note
• Personal payment range: Fellows pay themselves between $60,000 and $90,000
• Remaining balance: Supports company costs, including hiring and product development
• Eligible applicants: Individuals or teams commercialising their research
Eligibility Requirements
• Current undergraduate, masters and PhD students at Victorian universities or research organisations can apply
• Graduates who completed their studies within the past 24 months can also apply
• Applicants must finish their studies before the program begins
• Applicants must be able to work in Australia
• Applicants must be able to serve as a company director
• Shortlisted applicants will need a letter confirming university or institute support or co-investment
Research Priority Areas
• Research must have commercial potential in one of the following areas:
• Advanced manufacturing
• Agri-food
• Digital technologies
• Health and life sciences
• The clean economy
Fellowship Support and Structure
• Fellows receive entrepreneurial development support
• The first month is spent embedded in a university investment, commercialisation or entrepreneurship team
• Funding can support personal payments, hiring and product development
Current 2026 Fellows and Projects
• APRM Technologies, a Monash spinout under founder Arie Levin, is developing sensors for plastics recycling
• LocalPharm, founded by Monash researcher Vanshita Johar, is a software platform that predicts medicine shortages
• Poly Motion, founded by Swinburne PhD researcher Joshua Ince, is developing artificial muscles for robotics, prosthetics and exoskeletons
Founder Perspective
• Arie Levin, founder of APRM Technologies: “Across Australia, 130,000 tonnes of plastic winds up in landfill each year.”
• Levin added: “With the backing of Innovation Victoria, we’re developing smarter tools that, at scale, can drastically reduce that number, strengthening our circular economy while reducing waste.”
Leadership Perspective
• Rod Bristow, CEO of Innovation Victoria, said investing in smart researchers with great ideas helps grow the state’s innovation ecosystem.
• Bristow said: “We’re proud to back some of Victoria’s most promising founders at the critical first step of their entrepreneurial journeys, connecting them with the education, global networks and advice they need to translate their groundbreaking innovations into commercial successes.”
How to Apply
• Interested researchers should fill in the online expression of interest
• Applications for the July 2027 cohort close on April 2 next year
• Shortlisted applicants will be interviewed in May
With a focus on advanced manufacturing, agri-food, digital technologies, health and life sciences, and the clean economy, the fellowship offers a structured pathway for Victorian researchers to translate laboratory breakthroughs into commercial ventures. Its combination of convertible-note funding, salary support, university embedding and entrepreneurial development is designed to strengthen the state’s innovation ecosystem at the earliest stage of company formation.