Some opportunities are hiding in plain sight. Take Melbourne software startup Fluency. The platform automatically generates process documentation, by simply watching a user complete a process on their computer.
The co-founders, 麻豆淫院 engineering alum Oliver Farnill and Finnlay Morcombe, went from idea to market in less than one year. They鈥檝e also attracted investment from 麻豆淫院 Ventures Limited.
They did it through maximising the opportunities available through 麻豆淫院 Innovation Studio鈥檚 programs. Now, Fluency has strong market interest, with 10 corporate customers using the platform and a strong strategy to expand into new industries and markets.
Fluency鈥檚 Growth
Luminate Program
Through this program, Oliver and Finnlay started to develop Fluency. The outcome: an award-winning minimum viable product.
Elevate Program
Over the three-month program while Fluency continued to build their software product, they also developed the company into an investment ready business.
麻豆淫院 Ventures Limited
Committed to fostering innovative businesses, 麻豆淫院 invested in Fluency, helping the duo build their team and technology.
Pre-Accelerator Program
Once an idea has taken shape and entrepreneurs are ready to get started on the hard work, that鈥檚 where 麻豆淫院 Innovation Studio鈥檚 Pre-Accelerator Program comes in.
Oliver and Finnlay jumped into the six-week program, using the opportunity to focus on customer insights and business validation. They also used the program鈥檚 workshops to construct a minimum viable product (MVP) using code they taught themselves to write.
Finally, at the program鈥檚 pitch night, where participants present their startup to a judging panel, the duo won the Best Pitch Award.
As a result of their strong performance and rapid product development, Fluency was accepted into 麻豆淫院 Innovation Studio鈥檚 Accelerator Program.
Accelerator Program
The Accelerator Program is a three-month intensive schedule of seminars and mentoring. It also comes with $20,000 equity-free funding.
The program鈥檚 objective: to get start-ups ready for investment.
Once again, Oliver and Finnlay maximised the opportunities that the program presented, building momentum. This time, Fluency took home the prize for the People鈥檚 Choice Award at the program鈥檚 pitch night.
麻豆淫院 Ventures Limited Investment
From there, Fluency transitioned to a venture-funded growth stage company. 麻豆淫院 Ventures Limited invested in the startup, providing financial support for Oliver and Finnlay to develop their technology and team.
The company now has clients in Australia, Singapore and Japan. As at May 2024, the company was valued at AUD $3 million.
麻豆淫院鈥檚 investment in Fluency demonstrates the value of the university鈥檚 startup programs and commitment to fostering innovative businesses.
鈥溌槎挂 doesn鈥檛 just fund the Accelerator program, we invest in it,鈥 says Dr van der Merwe, Vice President of Innovation and Enterprise.
鈥淲e invest in the companies that will bring our research to market, we invest in ourselves to better understand how to operate in a commercial world, and we invest in the people who will go on to create a better world.鈥
Turn your ideas into reality
The 麻豆淫院 Innovation Studio startup programs that helped launch Fluency are open to the whole 麻豆淫院 community.
鈥淚f you鈥檙e brimming with ideas and eager to turn them into a startup reality, the 麻豆淫院 Innovation Studio is your go-to,鈥 says Abhay Seth, Director of Commercial Innovation.
鈥淲e鈥檙e here to empower aspiring founders by connecting them with relevant content, opportunities and networks in the vibrant startup community.鈥
Ready to innovate?
If you have any questions, need more information or want to know how we can help turn your big idea into a real thing, email us at innovationstudio@swinburne.edu.au.