Study Melbourne

Future Founders Venture Scholarships

Applications are closed for the Study Melbourne Future Founders Venture Scholarships, brought to you by Study Melbourne and StartSpace.

The scholarships are focused on providing support to new startup ventures led by current and former international students (up to 5-years' post-graduation.

There are five scholarships on offer including:
•   A 12-week program alongside the scholarship cohort
•   Bespoke mentoring and coaching
•   StartSpace Loft membership for the duration of the program for you and up to 2 team members
•   $10,000 AUD seed funding for your business
•   A demo day at the end of the scholarship to showcase your venture

Scholarship applicants can add up to two team members as co-applicants for the scholarship. Applications closed 11:59PM Sunday 10 March 2024 for the next 12-week scholarship program running from April to June 2024. If you missed out this time don't worry, the scholarships will be back for 2025..

Keep scrolling to learn more about the 2024 scholarships.

Get updates

We are excited to announce the Study Melbourne Future Founders Venture Scholars for 2024!
There are 5 teams and 10 individuals taking part in the 12-week program from 8 April to 28 June 2024.

Please join us in congratulating all of the scholars. Keep scrolling to find out more about them and their new business ventures below.

Animesh Ghimiray

Founder, Guardian Skies Drones

Co-founder, Healovate

Ajmal Abdul Azees

Co-founder, Healovate

Vineeta Giri

Co-founder, Mind The Gap Connect

Melia Wongso

Co-founder, Mind The Gap Connect

Sing Chan

Co-founder, Orp

Phuong Thao Tran (Sarah)

Co-founder, Orp

Chanputhi Tith

Co-founder, Orp

Watch to hear from Katherine Lee and Shimroth John Thomas, two of the Study Melbourne Future Founders Venture Scholars from 2022.

Watch

There are five Study Melbourne Future Founders Venture Scholarships available for individual founders or teams of up to 3 members.

To be eligible to apply as the primary applicant of the scholarship, you need to be a current or former international student (up to 5 years post-graduation).

The 2024 scholarship program will run for 12 weeks from 8 April to 28 June.

Applications

Applications are now closed for the 2024 scholarship program.

Please ensure you have read and understood the full terms and conditions of the scholarships before you apply.
This includes the eligibility requirements of the primary applicant and (if applicable) team member 1 and / or team member 2.

When completing the form need to supply information about yourself and your team mates (if you are applying with co-applicants). You will also need to provide detail about the business or idea you are working on.

We recommend you read through the application form first and draft your answers in a separate word document first. When you are happy with your answers you can copy and paste them into the application form.

Please note: You will not be able to save the application part way through and return to update your answers. You will however be able to fill it in more than once during the application period if you are not able to complete it first time.

Need help with your application? If you have accessibility requirements, please get in touch with the friendly StartSpace team at [email protected] to discuss any barriers to your participation in the Venture Scholarship program.

Get updates

Applications submitted will be assessed based on responses to the following criteria:

Problem & solution (20%)
The Application demonstrates a clear understanding of the target market/customers, and how to use an innovative product or service or business model to solve a specific problem for it.
Please also include a description of any expected positive social or environmental impacts.

Impact (20%)
Describes how participating in the Venture Scholarships program will change the trajectory of the startup or new business included in the Venture Scholarship application, how the applicant would like to utilise the funding and what the applicant expects to learn from the mentoring program provided by the Venture Scholarship (note that if successful, the Primary Applicant will be asked to provide a topline plan for how they intend to use the funds at the start of the program).

Success to date and execution plan (20%)
Demonstrates what has been achieved prior to lodging the application and what goals to achieve during and after the Venture Scholarship program. The Primary Applicant must be able to demonstrate that the early stage business or startup is at least at proof of concept stage (this may include details of initial momentum, customer research, engaged users or early adopters.

Team & Fit (20%)
Demonstrates that there is relevant expertise and skills amongst the applicants. The application should identify any unique advantage in delivering the product/service, and how success will be achieved, which may include information about experience, skills, networks.

Attitude & Commitment (20%)
Demonstrates the current level of commitment being invested in the business and confirms availability to participate in the program.

For more information about eligibility and the selection criteria please read the full Terms and Conditions.

Get updates

Find the answers to some of the common questions about the scholarships below. If you are still unsure of something please contact the StartSpace team on [email protected]

When will the scholarship program run?

The 2024 Study Melbourne Future Founders Venture Scholarships Program will run from 8 April to 28 June 2024.

What is included in the scholarship program?

Each successful scholar or team will be provided with: $10,000 cash funding for their ventures (non-equity funding). 6 x 1:1 mentoring sessions (1 hour) with a dedicated mentor across the12-week program. Fortnightly group WIP meetings with the whole scholarship cohort, with guest speakers on specific topics, facilitated by the program coach A venture crawl event where scholars will visit other startups and support services in the local Melbourne startup ecosystem. A program kick-off event and closing Demo Day held at StartSpace. 12-week Loft Membership at StartSpace, State Library Victoria (for up to three team members per venture).

How many members can be included in a team application?

Individuals, teams of two or teams of three can apply for the scholarship. Each application will include a ‘Primary Applicant’, and may include ‘Team Member 1’ and may also include a ‘Team Member 2’. The ‘Primary Applicant’ must be a current or former international student (up to 5-years post-graduation). In teams of two or three, one of the team members may be a domestic student (up to 5-years post-graduation).

What are the key eligibility criteria for the scholarships?

Some of the key eligibility criteria includes: The Primary Applicant must be at least 18 years of age, a current or former international student in Victoria, working as a founder or co-founder on a lawful early stage business or startup, with a valid Australian Visa for the duration of the venture scholarship program. Please note you must read and agree to the full Terms and Conditions as part of your application submission. You can find them here: https://startspacehq.com/wp-content/uploads/2024/02/Future-Founders-Venture-Scholarships-Terms-and-Conditions-2024.pdf

How long are applications open?

Applications are open from Monday 5 February until 11.59pm Sunday 10 March 2024. Please note that applications submitted after the closing date and time will not be accepted.

How do I get help with my application / accessibility requirements?

If you have any specific access requirements in relation to your application, you may have the option to submit your responses to the application questions via video or audio format. If you require this option please contact the StartSpace team at [email protected] or 03 8664 7111 before submitting your application via video/audio.

How is my information submitted in the application used?

If you decide to submit an application, State Library Victoria collects your personal information to assess your application and communicate with you about your application. We may publish your name and details supplied in your application form on the StartSpace and Library websites and channels if your application is successful. We may also pass this information onto the program Partners Study Melbourne who may publish your name and information on their website and channels. We may also use personal information to assess and improve our performance and offerings, and to fulfil the Library’s functions under the Libraries Act 1988 (Vic). We use third party systems and servers which may be located outside Victoria. If you do not provide the requested personal information, we cannot progress your application. We manage personal information in accordance with applicable laws, including the Privacy and Data Protection Act 2014 (Vic), and our Privacy Policy. You can access your personal information by writing to our Privacy Officer at [email protected] or State Library Victoria, 328 Swanston Street, Melbourne VIC 3000. We use third party systems and servers which may be located outside Victoria. If you do not provide the requested personal information, we cannot progress your application. We manage personal information in accordance with applicable laws, including the Privacy and Data Protection Act 2014 (Vic), and our Privacy Policy. You can access your personal information by writing to our Privacy Officer at [email protected] or State Library Victoria, 328 Swanston Street, Melbourne VIC 3000.

What is the selection criteria?

Applications will be assessed based on responses to the following criteria: 1. Problem & solution (20%) The Application demonstrates a clear understanding of the target market/customers, and how to use an innovative product or service or business model to solve a specific problem for it. Please also include a description of any expected positive social or environmental impacts. 2. Impact (20%) Describes how participating in the Venture Scholarships program will change the trajectory of the startup or new business included in the Venture Scholarship application, how the applicant would like to utilise the funding and what the applicant expects to learn from the mentoring program provided by the Venture Scholarship (note that if successful, the Primary Applicant will be asked to provide a topline plan for how they intend to use the funds at the start of the program). 3. Success to date & execution plan (20%) Demonstrates what has been achieved prior to lodging the application and what goals to achieve during and after the Venture Scholarship program. The Primary Applicant must be able to demonstrate that the early stage business or startup is at least at proof of concept stage (this may include details of initial momentum, customer research, engaged users or early adopters. 4. Team & Fit (20%) Demonstrates that there is relevant expertise and skills amongst the applicants. The application should identify any unique advantage in delivering the product/service, and how success will be achieved, which may include information about experience, skills, networks. 5. Attitude & commitment (20%) Demonstrates the current level of commitment being invested in the business and confirms availability to participate in the program. For full details about eligibility and selection criteria please see the full terms and conditions. https://startspacehq.com/wp-content/uploads/2024/02/Future-Founders-Venture-Scholarships-Terms-and-Conditions-2024.pdf

Do I need to supply a pitch video or document as part of my application?

As part of your application, in addition to answering all of the mandatory questions in the application form, you can choose to upload a succinct pitch proposal about you and your business idea in one of the following formats: a PDF of no more than 10 slides (hosted on Dropbox or Google Drive) OR a three minute (max) video (hosted on Vimeo/YouTube/Dropbox or Google Drive) and provide the URL Link in the application form. Please note this is completely optional. You may choose to apply by only filling in answers to the mandatory questions.

When will I hear if my application is successful?

You should hear the outcome of your application in the week commencing 25 March 2024 or by Tuesday 2 April latest. If you need to contact the StartSpace team about your application you can email: [email protected]

How many scholarships are available?

There are five scholarships on offer in 2024 for individuals or teams of up to three members.

If I applied in a previous year can I apply again?

If you have applied for a previous Study Melbourne Future Founders Venture Scholarship and were unsuccessful, you are welcome to apply again with the same business or idea. If you were awarded a Venture Scholarship in the past, we recommend any new or future applications should be made with a new or different business or idea to the one you worked on at the time of being awarded the scholarship.

This video recording is from the Future Founders Venture Scholarships Information Session that was recorded on Friday 23 February 2024 providing information and tips on how to apply, including a Q&A with the audience. Please note applications are open for the scholarships until 11:59pm Sunday 10 March 2024.

If you have any questions about your application please email: [email protected]

Venture Scholarship Terms & Conditions

Watch

Announcing the Study Melbourne Future Founders Venture Scholars for 2023!
This year there were 5 scholarship programs on offer for individual founders or teams of up to 3. There are 5 teams and 8 individuals taking part in the 12-week program from 18 April to 4 July 2023.

Please join us in congratulating all of the scholars. You can find out more about them and their new business ventures below.

Eugenia Yuan

Co-founder, Inspiring Chats

Abhishek Kansakar

Founder, Electrify Infinite

Founder, NeuroGen Global

Co-founder, Inspiring Chats

On Thursday 17 March at the Future Founders: Celebrate and Connect event the Future Founders Venture Scholars for 2022 were announced.

Please join us in congratulating all of the scholars, who completed their scholarship program in 2022 thanks to Study Melbourne and StartSpace. Find out more about the new business ventures the scholars are building with the help of the program.