Monash University, in partnership with Illume Ventures has secured a LaunchVic grant to support a new program designed to help scientists transform AI and deep-tech research into commercially viable ventures.
L to 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.
Announced by Minister for Economic Growth and Jobs Steve Dimopoulos at the Victorian Startup Gala, the Future Frontier AI & Deep-tech Pre-Accelerator Program (Future Frontier), delivered by Monash AI Institute and Illume Ventures, has received a $400,000 Pre-Accelerator Grant to help scientists take promising research towards entrepreneurship.
Future Frontier will provide specialised training, mentoring and industry connections to help participants move from research discovery to venture creation.
Over the next two years, Future Frontier will deliver four 10-week pre-acceleration program, supporting at least 80 researchers, founders and aspiring entrepreneurs seeking to commercialise their AI and deep-tech innovations.
The Future Frontier program was developed by Monash AI Institute Director Professor Shonali Krishnaswamy and Dr Jyoti Joshi Dhall, in collaboration with Illume Ventures founder and director Laxmi Pun to address a longstanding challenge in Australia's innovation ecosystem: translating world-class research into successful commercial ventures.
Monash AI Institute Director Professor Shonali Krishnaswamy said Australia had a good track record in research excellence but needed stronger pathways to commercialisation.
"Many researchers have developed remarkable AI and deep-tech innovations, but building a successful startup requires a completely different set of skills," Professor 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."
Participants will gain practical skills in product development, venture creation, fundraising, intellectual property strategy, market validation and industry engagement, helping them take research from concept to commercial opportunity.
Illume Ventures founder and director Laxmi Pun said the program would focus on helping deep-tech innovators navigate the unique challenges of commercialising advanced technologies.
"Great research and technologies rarely succeed in isolation. Entrepreneurs need access to the right customers, industry partners, investors and advisors to understand where their innovation can create the most value," Ms Pun said.
"Through Future Frontier, we will help researchers engage directly with the people and organisations that shape the innovation ecosystem."
The new program builds on Monash's broader innovation and commercialisation commitments, which supports researchers, students and founders through entrepreneurship programs, startup initiatives, industry partnerships and pathways for research translation.
Monash University Vice President (Innovation and Commercialisation) Dr Andrea Huggins said the program aligned closely with the University's commitment to accelerating research translation and creating impact through innovation.
"Monash is committed to ensuring our research delivers tangible benefits beyond academia. Programs like Future Frontier help create pathways for researchers to translate discoveries into products, services and technologies that address real challenges," Dr Huggins said.
"The Victorian Government's support recognises the importance of helping researchers navigate the journey from research to commercial success, creating stronger pathways for the next generation of AI and deep-tech founders."
