EduGrowth, backed by Deakin University, La Trobe University, Monash University, Charles Sturt University and Griffith University, has welcomed its first cohort.
EduGrowth, a non-profit platform founded by Deakin University, La Trobe University, Monash University, Charles Sturt University and Griffith University as well as education company Navitas, has launched an accelerator, Australian Financial Review wrote on Sunday.
The six-month program has welcomed a first cohort of five businesses that focus on the edtech sector. The startups will have access to workspace, mentoring and a network of schools, universities and Navitas.
Each participating company will receive A$50,000 ($38,000) in funding in return for a 6% equity stake. The money comes from a dedicated fund, backed by EduGrowth’s founders, which currently stands at more than A$1m and has a target size of A$3m.
The five businesses include Become, which hopes to develop an app to teach primary school pupils how to explore different career options, and Life is Yellow, a mobile game for iPad that uses magical creatures to teach children arithmetic.
Craftsposure offers an online platform to help creative users turn their hobbies into a professional career. Jifox is aimed at senior school students and will offer access to past exam questions and provide the solutions through video content.
Finally, Prevyou is working on online tools to let students learn soft skills for the workplace.
EduGrowth is aiming for the second cohort to be larger and welcome up to 10 startups next year.
