Each week there are more companies announcing job loses as the coronavirus pandemic continues. With almost all industries affected, it is startups who hold the key to recovering the Australian economy.
Research has proven that the majority of new jobs are created by companies less than five years old. Without startups the road to recovery is possible, but it will likely take much longer.
David Burt, Director of Entrepreneurship at UNSW Sydney believes the nation’s innovators can flourish when supplied with the right tools and support. “Australia’s universities can play a powerful role in helping this next generation of Australian entrepreneurs tap into the capability and networks latent in university communities.”
With some Australian universities cutting back or permanently closing their entrepreneurship programs in the wake of the pandemic, UNSW has more than doubled the volume of support available to UNSW startups.
“UNSW Founders made the early call to transition our delivery online and we’ve found new ways to meaningfully include program participants from our overseas-based students and alumni” said Burt.
Entrepreneurs are the lifeblood of the Australian economy right now and university programs are a key support mechanism for them.
Take for example HEO (High Earth Orbit) Robotics, led by UNSW Faculty of Engineering alumni, William Crowe. At the end of 2017, Crowe joined one of UNSW’s flagship entrepreneurship programs, 10x Accelerator, where he fast-tracked his startup and identified a global opportunity to help customers with satellite identification, commissioning and troubleshooting in-orbit.
HEO Robotics uses software to take high quality images from space of satellites, space-debris and resource-rich asteroids by utilising data already available from satellites.
Even though it’s still early on in its trajectory, the Sydney-based startup is helping Australia to join the new space economy after recently releasing a proof-of-concept capture of the International Space Station. Proving the space race is no longer just between the super-powers but rather led by a raft of ambitious entrepreneurs.
Crowe said "this is our first successful test to image the International Space Station from an Earth Observation satellite. It’s an important step in verifying HEO's software and strategy to become the first company worldwide to launch a full-feature in-orbit inspection service next year to Low Earth Orbit."
Read more about HEO Robotics’ invitation-only customer pilot program. Alternatively, visit the UNSW Founders website to see the full range of programs available to UNSW staff, students and alumni.