My time with the Melbourne Accelerator Program
Six months ago, if someone had asked me about the sector I was keen to work in, startups would not have crossed my mind. It was rather by chance that I stumbled upon the startup ecosystem when I was allocated as an intern to the Melbourne Accelerator Program (MAP) through the University of Melbourne’s Students@Work program.
I’m almost ashamed to say that beyond some episodes of Shark Tank and articles on rising unicorns, my knowledge on startups was quite limited; I hardly knew about MAP or the actual operations of an accelerator program. However the brief, yet rewarding time I spent at MAP proved to be one of those rare experiences that will certainly impact my interests long term.
In my role I supported the recruitment process for the 2022 MAP cohort whilst conducting due diligence on the applicants. I assessed the startups’ operational and business risks and evaluated the degree of social benefit they generated.
This was an excellent opportunity to be able to finally apply the knowledge I gained at university to a practical setting and watch the theory pan out through a different lens. There was a lot I didn’t know; I was happy to ask my supervisor about certain processes or quickly Google terms that I hadn’t come across before, constantly learning.
Ultimately, I’ve learnt so much about assessing startup ideas, reviewing business and finance models, witnessing the challenges faced by entrepreneurs and the support present for them at MAP.
My absolute favourite experiences during my internship were the MAP pitch events and the interviews that took place during the selection process. During these sessions, I had the privilege of meeting some of the most innovative minds that I’ve ever come across in my life; from teams founded by a few university friends to seasoned professionals who are at the top of their fields, the variety and experience of entrepreneurs in the startup ecosystem is infinite. Networking with these founders, hearing their unique stories and their varying journeys was fascinating.
The sheer variety of startups at MAP and the problems the founders are aiming to solve is enlightening. The current 2022 cohort includes startups working in music, education, health, blockchain and green technologies. MAP’s ability to bring such a diverse cohort together, creating incredible synergies between the teams, whilst fostering a supportive entrepreneurial environment, is truly unique. Additionally, MAP’s culture of giving back means that alumni from past cohorts can return as mentors, where they can guide the new cohort and help them navigate the challenging early stages.
When I started working at MAP, I thought the program simply provided financial backing and support to a select few startups. However, the support MAP provides is so much more valuable. Now in its 11th year, MAP has become a hub that connects innovators, helps both for-profit and for-purpose entrepreneurs find their footing and has become a leading contributor to the Australian startup ecosystem. MAP cultivates entrepreneurship and supports founders who are solving problems which affect millions of people. I am so grateful to have been part of MAP’s impact, even if only in a small way.
Finally, I want to thank the incredible team at the Melbourne Entrepreneurial Centre who were all extremely supportive and welcoming throughout my internship. A special mention goes to my amazing manager and supervisor, Laxmi Pun, and Andy Loh, who have made this internship one of the most rewarding experiences of my life.
Needless to say, whilst my internship with MAP is ending, my interest in startups has just begun. I hope to see all the wonderful people I’ve met, including the MEC team and the founders, reach heights of success and I cannot wait to see the MAP 2022 cohort reshape their respective industries.
