Australia Post has set up a A$20 million fund to incorporate the latest technologies in their services, including drone package deliveries in the most remote areas in Australia and 3D printing services operating from post offices.
Further, Australia Post and the University of Melbourne’s Accelerator Program (MAP) have inked a three-year $1 million MAP partnership agreement to support small businesses and boost eCommerce innovation across the country.
“We will work with our people, our customers, the community and our partners to identify new opportunities and emerging, disruptive eCommerce businesses that we can accelerate. We will use the $20 million capital fund, which with the success I expect could grow to more than $100 million over coming years, to directly invest in great eCommerce businesses with ideas that will improve the lives of our customers,” said Australia Post Managing Director & Group CEO Ahmed Fahour.
“We believe universities don’t just educate our future generations; they are a production line of ideas for new entrepreneurs and new businesses. Harnessing the current mood around Australia’s innovation agenda is important, and this investment will go a long way to ensuring that start-up cultures like those at MAP continue to have a prominent role at the University,” said University of Melbourne Vice-Chancellor Professor Glyn Davis.
“This is an investment in the future of entrepreneurship skills development at the University of Melbourne, and will add to our larger push to expand the innovation eco-system across the University and in this city.”
Key elements of the three-year million-dollar partnership with MAP include:
- Two new places for eCommerce businesses in the MAP Startup Accelerator with each to receive $20,000 in funding, office space, mentoring and connections to local and international networks.
- A $20,000 annual scholarship to the Wade Institute for Entrepreneurship.
- Three specific outreach programs targeting regional & rural areas, women and social entrepreneurs.