InfinityLab is an accelerator bringing experienced people together to build new companies.
This is achieved by people applying their transferable skills and experience to commercialise proven innovation.
Innovation is fundamental to Australia’s future but the benefits of extraordinary research and innovation are only realised if this is effectively marketed and delivered to end users.
How is InfinityLab different to other accelerators
- InfinfinityLab is a social impact accelerator
- InfinityLab focuses on supporting mature people with considerable experience
- Ventures established are based on existing, proven innovation that is looking to be introduced into new markets
- The InfinityLab program runs for 12 months
- Teams are usually formed by InfinityLab from individuals who have applied to join
- Team members receive a salary as well as equity in the new ventures they build.
Who is InfinityLab is looking for
InfinityLab supports people who are transitioning into a new career, and who have confidence, resilience and, most importantly experience
The Ewing Marion Kauffman Foundation in the United States conducted research showing that experience plays a key role in the success of new ventures
Information is not knowledge. The only source of knowledge is experience.
Establishing a new venture is challenging. InfinityLab provides a support environment to help bring proven innovation to market.
InfinityLab contributes to society by providing a robust program for experienced individuals and through the innovation being introduced to society
InfinityLab recognises experience and aligns this with knowledge and creativity
Participants on the InfinityLab program need to be willing to put in hard work and to contribute as a member of a team.
The InfinityLab program
InfinityLab teams usually comprise 4-5 individuals. InfinityLab supports up to 5 teams in each cohort for 12 months.
New cohorts commence every 4 months meaning there there may be up to 3 cohorts, or 75 people working on new ventures at any time.
Supporting these ventures is done by by leveraging with government support support with funding from corporate partners
The InfinityLab program is rigorous, with regular reviews of each new ventures viability.
Ventures that complete the InfinityLab program are robust, proven, generating revenue and well on their way to becoming successful companies.
Confronting the future is challening, especially as one gets older and options appear fewer.
However procrastination is not an option and engaging can be life changing.
Tackling a new venture by oneself is even more daunting and can lead to mistakes.
Working in a team and in a supportive environment helps see alternatives and maintain perspective.
Stakeholders in the InfinityLab program
Stakeholders in the InfinityLab program include :
- Members of the founding teams, who receive an income, and equity in the ventures they establish
- Funds and companies who contribute funding to support the innovation teams in return for equity in the ventures they fund
- Companies who provide InfinityLab as an option for transitioning staff and as a volunteering experience for existing staff
- Holders of the innovation IP who receive equity for the use of their IP
InfinityLab for your Organisation
Change is inevitable as organisations realign skill sets to compete in a global market.
Change is confronting for both transitioning staff and those remaining.
Staff leaving impacts on morale and performance.
InfinityLab enables you to offer transitioning staff an alternative future
Çompanies are increasingly recognising the importance of social responsibility for long term sustainability, and offering staff more elegant transition plans
InfinityLab offers inclusive entrepreneurship, creates positive social change and helps people develop alternative futures.
Your organisation and InfinityLab
Internal innovation,and “hackathons” can be disruptive to ongoing operations and are often less than effective
Supporting transitioning staff with a position on the InfinityLab program can help your organisation discover and implement new products and services without disrupting ongoing business
Engaging with InfinityLab also benefits your organisation by utilising the knowledge of departing staff
Retained staff may also benefit as they:
- See your company supporting transition plans
- Can provide social impact and meaningful volunteering
- Gain exposure to innovation and the startup process without leaving your organisation
- See high performance teams being developed (with opportunities to provide feedback on innovation and the teams)
- Develop experience and skills for “the future of work”.
Change impacts on all of us !!.
Traditional forms and forums of social interaction are changing. The need to support staff has never been more important.
Progressive organisations are embracing new models for doing business and ensuring the welfare of staff.
Building our future. Today