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A Brisbane-based venture capital firm has partnered with accelerator UNSW Founders to offer 18 Australian startups $200,000 each to push the commercialisation of their deeptech products and services.
In addition to the capital, the 10-week intensive program offers workshops and mentoring from industry experts, weekly one-on-one meetings with entrepreneurs-in-residence, access to co-working spaces with UNSW Founders for six months after the program, ongoing coaching, networking events and more.
Alumni from the program include Sydney-based space technology company High Earth Orbit (HEO), virtual job simulator Forage, hydrogen retrofit tech company DeCarice and AI robotics and defence company Breaker.
UNSW Founders, which has been run by the University of New South Wales since 2018, has invested in more than 120 new startups that have a combined enterprise value of more than $750 million.
“As a philanthropically funded accelerator, UNSW Founders depends on partnerships like this to turn groundbreaking ideas into high-growth ventures,” UNSW Founders director of entrepreneurship David Burt said.
“Physical product innovation needs more than just capital - it needs access to infrastructure like prototyping labs, clean rooms and testing facilities.
“Together with Luminary Partners, we’re building an ecosystem that helps transform breakthroughs into scalable businesses that will improve both Australia’s prosperity and security.”
Founded in 2025 through the merger of HappenCo and Banksia, Luminary Partners brings significant capital, industry expertise and a vast investor network to help deeptech startups scale globally. According to the firm’s website, it has delivered more than $4 billion in shareholder value, with startups in its portfolio including savings platform Earnr, telehealth service 13SICK and school trip planning platform EdTripper.
The investment will significantly enhance three of UNSW Founders’ flagship programs aimed at solving some of society’s most pressing challenges: Health 10x, Defence 10x and Climate 10x.
Health 10x, delivered in partnership with The George Institute for Global Health and Virtus Health, will accelerate ventures focused on addressing major unmet health needs, with a particular emphasis on innovation in women’s health.
Developed in collaboration with the Defence Trailblazer initiative, Defence 10x will support startups and scaleups working to strengthen Australia’s national security and sovereign capabilities.
Meanwhile, Climate 10x will advance startups tackling issues in decarbonisation, clean energy and the circular economy, through support from the Trailblazer for Recycling and Clean Energy.
To support the development of Australia’s economy, the government has also committed $15 billion through the National Reconstruction Fund Corporation.
The NRFC will invest in seven priority areas, including resources, transport, medical science, defence capability, renewables, agriculture and enabling capabilities until 2029.
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