Impact of iAccelerate
iAccelerate is at the heart of UOW’s commitment to growing a thriving regional economy. This community we’ve built is delivering the goods on innovation, jobs and revenues, facilitating rapid acceleration of businesses and attracting new companies and industries to the Illawarra.
iAccelerate's economic impact report for 2021 highlights another year of outstanding results where we continue to be a leader in Australia's innovation ecosystem.
Combining world-class resources of the University of Wollongong with entrepreneurs, businesses and investors our expertise and strengths are creating positive impact in our local and global communities.
“Since joining iAccelerate we have increased our revenue by over 20 per cent and our staffing from 15 to 20 people, all of whom are located regionally.”
Supporting innovative companies
By the end of 2021 iAccelerate has supported 247 companies in total.
With 2 intakes in 2021, iAccelerate supported 20 new companies and 30 students through the program.
Supporting innovative companies
Since its inception, iAccelerate has delivered 904 new jobs from companies actively engaged as members of our program (this does not include ongoing job creation by our Alumni).
In 2021 we delivered 172 new jobs to the community (not including our founders).
iAccelerate's industry-agnostic program supported 68 companies
in 2021 in a range of sectors that include: tech, hardware, energy, AI, robotics, EdTech, health and wellbeing and social enterprises.
41% of iAccelerate companies have at least 1 active female founder.
Our aim is to have women represented equally in our ecosystem with a target of 50%. We have shown consistent above national and international results over the past 5 years: 46% (2020), 47% (2019), 50% (2018), 42% (2017) and 35% (2016)
Generating over $83.7M in
*95% of reported revenue came from five iAccelerate SME's.
Money into the economy
$29.5M in combined salaries / wages and payments to contractors.
Investment since 2016
Over $45.6M raised by iAccelerate Companies in equity capital, debt capital and grants.
Products and IP
iAccelerate companies continue to launch & develop new products.
iAccelerate innovation network
At iAccelerate, we’re on a mission to amplify the innovation ecosystem way beyond our own walls.
Through the iAccelerate Innovation Network, we’re bringing together entrepreneurship networks right around the globe to forge powerful long-term collaboration opportunities. By sharing resources – education materials, industry expertise, speakers, mentors, investors and more – we’ll collectively drive regional, national and international innovation to bold new heights.
The iAccelerate Innovation network is growing fast, with our landing pads and hubs all over Australia and internationally. We are currently in the process of growing our network. Find out more about our network partners by viewing their details here.
"We’ll use the well-proven methodology from iAccelerate and tailor it to local needs and conditions, working with the community to foster a spirit of innovation that leads to economic opportunities in the region…"