University of Adelaide’s ThincLab to launch international incubator program

Start-ups eyeing global growth will be offered an opportunity to spend up to a year honing their ventures overseas as part of a new program led by the University of Adelaide.

University of Adelaide Entrepreneurship, Commercialisation and Innovation Centre director Carolin Plewa and Numu founder Carlos Lopez at ThincLab Adelaide. Picture: Tom Huntley

• Adelaide University launches ThincLab to supercharge local ideas
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Start-ups eyeing global growth will be offered an opportunity to spend up to a year honing their ventures overseas as part of a new program led by the University of Adelaide.

The university will launch the $1.1 million ThincLab International Incubator Program in March, after winning a $500,000 grant from the Federal Government’s Incubator Support initiative, which helps local start-ups reach international markets.

The first of three cohorts of 20 businesses will commence the program in July, and will initially be offered mentoring, capital raising and networking opportunities, and access to university resources at its ThincLab headquarters on Pulteney St in the CBD.

Six start-ups from each cohort will then be chosen to travel to the university’s ThincLab hubs in France or Singapore for up to 12 months to further develop their global growth plans.

Director at the university’s Entrepreneurship, Commercialisation and Innovation Centre, Professor Carolin Plewa, said the program would help start-ups enter new markets through networking, mentoring and other support offered on the ground in Asia and Europe.

“The initial program is very much in the development of a readiness,” she said.

“We have a face-to-face and online program, with access to ThincLab (Adelaide) and its facilities, mentoring, all integrated to really ensure that the start-ups feel that they’re ready to go and have that support.

“And then out of those cohorts there’ll be a number of businesses going both into France and Singapore.

“For the economy here, a lot depends on business growth, and for growth you do need exports and to be able to reach those global markets.”

The ThincLab hub in Adelaide is home to close to 50 ventures, providing office space, advanced technology including 3D printers, mentoring, networking and other support, all with the aim of helping to commercialise ideas at various stages of development.

Sister facilities were opened in Singapore in 2017 and in Châlons in France’s Champagne region in February last year.

Pro Vice Chancellor (Entrepreneurship) Professor Noel Lindsay said another ThincLab hub would open at the university’s Waite campus in April, while overseas expansion was also in the pipeline.

“The role of universities has changed in the world and we need to be more engaged and have a greater impact in the communities that we operate in,” he said.

“We operate in a global market so Singapore and France are two important parts but we're also exploring other markets such as China and other locations as well.”

Professor Lindsay said the new international program would help to mitigate many of the risks associated with taking a business idea global.

“It’s one thing saying we should be going overseas but that’s pretty scary for some people and there’s great risks there,” he said.

“What we’re trying to do is reduce the risk, manage the risks somehow for those start-ups going overseas, making it less scary and providing a concierge service at the other end where you can feel comfortable with the people there who will look after you.”

Former University of Adelaide student Carlos Lopez has spent the past eight months developing his digital start-up Numu at ThincLab Adelaide.

The Numu app offers subscribers loyalty points when they publish online reviews or social media posts about retail businesses, or make purchases through the app.

After testing the technology in Europe last year, and setting up base at ThincLab Singapore, Mr Lopez plans to launch the app in Adelaide next month with 50 local venues already signed up.

He said the growing ThincLab network made it easier for companies like his to establish a presence overseas and to access international networks.

“It’s one of those things that makes your landing softer,” he said.

“I know I’ll have the support of the University of Adelaide, it’s a really big international institution, and that gives us a lot of credibility to talk with companies, to talk with investors.

“I think the really disruptive companies always need to think global - they can’t just think locally.”

Professor Plewa said the university would potentially extend international placements for local start-ups, depending on the success of the initial two-year international incubator program.