The New Venture Institute (NVI) at Flinders University has achieved global recognition by being named the ‘Top Challenger in Asia-Pacific’ in the latest UBI World Benchmark Study.
The UBI World Benchmark Study is the world’s most extensive ranking exercise for university-linked business incubators and accelerators, and separates the wheat from the chaff in terms of entrepreneurial nous and long-term business success.
In 2018 the New Venture Institute will open a startup incubator to serve the Limestone Coast. Located in Mount Gambier, eNVIsion Limestone Coast will deliver NVI’s award winning Venture Dorm program, connect the region to NVI’s home at Tonsley Innovation District and leverage NVI’s global network and reputation. It is already taking enrolments and will see winning ideas compete in global markets.
The New Venture Institute has delivered a stunning result in the UBI Global Benchmark by outperforming the top 10% of incubation programs worldwide in the category of talent retention and performing significantly above the global average in terms of economic impact, startup creation and post-incubation performance.
According to UBI Global, NVI also achieved an above average score regarding access to networks and program attractiveness.
“These results are exceptional considering NVI’s comparatively young age, and are testament to the world-class training and inspirational climate we have fostered at Flinders as the University’s home of entrepreneurship,” says NVI Director Matt Salier.
Founded in 2013, NVI has helped create 232 startups and trained more than 2,000 individuals in innovation and enterprise.
It has also generated Australia’s largest pre-accelerator program for aspiring entrepreneurs, the award-winning Venture Dorm initiative.
Chosen from 1,370 incubation programs around the world to be benchmarked, NVI has risen above a shortlist of 259 programs from 53 countries to achieve the top gong for the Asia-Pacific region.
“This latest accolade puts NVI on the world map and is further evidence that we are hitting it out of the park in terms of the relevance and quality of our programs,” Mr Salier says.
“We are the only hybrid incubator/accelerator program in Australia to receive two incubator support grants under the National Innovation and Science Agenda, and now we are recognised as a global leader in our field.
“Knowing that NVI produces more successful graduates than the Global Top Average of the world’s best incubation programs is a real boon and reflects the level of strategic investment that Flinders University has made in us,” Mr Salier says.
One of NVI’s greatest strengths is the exceptionally high number of alumni entrepreneurs that remain engaged with NVI and that locate their operations at Tonsley Innovation District upon graduation, where NVI is based.
Being located at Australia’s first Innovation District gives NVI students and clients the opportunity to access world-class research, training and networks in a single multi-use hub, and take full advantage of South Australia’s capabilities in health, renewable energy, technology and mining.
“The immersive experience we are able to provide at NVI by being based at Tonsley enables our clients to develop their capacity to leverage disruption and pursue valuable business opportunities in an educated, fearless way,” says Mr Salier.
Voxon Photonics graduated from Venture Dorm’s class of 2014, and has gone on to secure more than a million dollars in investment from Australian investors. Their state of the art 3D Volumetric Display technology is being developed out of the eNVIsion space at Tonsley and Voxon now employs 6 full-time staff, with sales across multiple markets.