The benefit from higher education for beginners was highlighted with the launch of a venture capital fund aimed at university graduates. Galileo collects $ 20 million from investors to help potential entrepreneurs begin their journey immediately after graduation.
Launch of Galileo occurs after a recent report in which 86% of people launching a startup have a tertiary qualification, including 24% with a master’s degree and 8% are candidates of science. The plan is to target graduates who have an idea or some product, and finance them for up to $ 200,000. Galileo will appoint a mentor who will lead them on the intellectual side of the project.
"Startups are contributing more than $ 160 billion to the Australian economy," said executive director Belinda Robinson. "Universities and their graduates play a vital role."
As previously reported, Noah Heller is launching a new venture fund to focus on LA technology.