Breakthrough Victoria (BV) has announced the first three recipients of its Fellowship Program, a $7.5 million initiative designed to support researchers in transforming their discoveries into market-ready innovations.
The multi-year program aims to foster research entrepreneurship in Victoria by investing $150,000 in each Fellow’s startup, as revealed in a news release.
Breakthrough Victoria said the initiative is expected to help establish up to 50 new companies and create at least 50 jobs, contributing to the state’s growing innovation and investment pipeline.
According to BV, the program also addresses the limited awareness of entrepreneurship pathways among Victorian PhD students, encouraging early-stage researchers to explore commercial opportunities.
The 2024 cohort features three founders working across mental health, fertility, and cancer diagnostics. Among them is RMIT University PhD graduate Michelle Chen, whose startup Mental Jam develops video games to promote mental health literacy.
“Traditional mental health support doesn’t work for everyone,” Chen said. “We’re building accessible tools that help people understand and cope—starting with a game they can download instead of waiting for an appointment.”
BV said it continues to play a major role in early-stage technology investment in Victoria, with 69 investment commitments totalling $480 million.
An independent EY-Parthenon report found BV’s portfolio is on track to generate $5.3 billion in economic impact for the state by 2035.
The report also noted that BV-backed investors accounted for 88 per cent of early-stage investment and 76 per cent of venture-stage investment in Victoria in 2024.
