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The Australian Government has committed to implementing a Startup Year program intended to build a pool of knowledgeable new entrepreneurs and potential new companies to drive innovation and job creation in Australia and grow much-needed links between higher education providers, industry and the startup community.
The program will provide up to 2000 HECS-style loans each year to allow final-year undergraduate students and current post-graduate students to participate in a higher education-based incubator or accelerator program.
Minister for Industry and Science Ed Husic said startups are leading the way creating jobs, commercialising ideas and finding solutions to emerging challenges across the economy at the Spark Festival Launch Event.