Universities tighten the purse strings on start-up boosters

Australian universities are running the ruler over their start-up programmes in the wake of the COVID-19 pandemic, with Queensland University of Technology’s accelerator programme one of the first to be shut down, writes Cara Waters for The Age.

Queensland University of Technology is closing Creative Enterprise Australia, which has operated for a decade alongside its investment activities through the Creative Tech Ventures Fund. The university’s Bluebox research commercialisation unit has also been closed.

The closures come as Australian universities are under pressure to cut costs as a result of the COVID-19 pandemic, which has decimated the income they receive from international students. Industry sources said several universities have cut funding to their accelerator and incubator programmes, which are a major source of funding and support for fledgling start-ups.
Full report on The Age site