Cash and support for innovators

A regional Victorian, who will launch a high-tech medical product into the Indian market next month, is encouraging other budding entrepreneurs to access seed funding and turn their ideas into reality.

Associate Professor Andrew Stranieri was successful in the first intake of La Trobe University’s Accelerator Program, an initiative that rewards promising start-ups with up to $20,000, plus access to professional mentors, workspaces and workshops.

La Trobe University received $1 million from Launch-Vic to help deliver the Accelerator Program.

Associate Professor Stranieri related the journey he and fellow entrepreneur, Dr Venki Balasubramanian, went on when establishing their company, Anidra Tech Ventures, at a public information session in Bendigo.

Anidra is launching its first product – a remote patient monitoring system, which allows medical professionals to monitor their patients’ vital signs from across the room or hospital – in India next month.

Associate Professor Stranieri said he and Dr Balasubramanian joined the Accelerator Program to nurture their idea into a viable business.

“We had some idea of what we wanted to do and how we wanted to do it, but the program taught us how to refine all of our assumptions and be more rigorous and professional about it,” he said.

Associate Professor Stranieri said one of the best parts about the program was working alongside fellow entrepreneurs.

“It was great to be in the workshop spaces with the other teams, realising that we’re all going through the same process – all sort of scared and confused, but getting a buzz. To do that together was enormously satisfying,” he said.

To date, the program has graduated 17 start-ups in 12 months with over $150,000 seed funding awarded.