The University of Sydney has partnered with MLC, one of Australia’s largest superannuation funds, to launch the Venture Mentoring Program, a new initiative designed to connect early-stage ventures with experienced mentors from the University’s alumni and industry networks.

Announced last night at the University's flagship research commercialisation and innovation event, Sydney Solutions, the program will support researchers, founders and innovators along the pathway from discovery to impact.

“The Venture Mentoring Program gives the community, including our exceptionally diverse, skilled and connected alumni, a meaningful way to help the next generation of founders translate great ideas into real-world solutions,” said Vice-Chancellor and President Professor Mark Scott AO.

“It promises to be a rewarding experience for our generous mentors and entrepreneurial researchers, students and founders.”

One venture showcased at the Sydney Solutions event was Armāitide Pharmaceuticals, a research-led biotechnology company developing targeted cancer medicines.

Founded by Associate Professor Pegah Varamini from the School of Pharmacy, Armāitide's lead program focuses on developing treatment for triple-negative breast cancer, an aggressive form of breast cancer with limited targeted treatment options.

The company's technology uses a small targeting peptide to recognise receptors found at elevated levels on certain cancer cells enabling the selective delivery of a potent anticancer drug.

“You can think of the peptide as a molecular address label that helps direct the treatment towards the tumour,” said Varamini.

“From the outset, the program was designed not simply to generate interesting scientific findings, but to address the questions that must be answered to progress a new cancer therapy towards clinical use.”

Armāitide has progressed through advanced preclinical development and is continuing towards clinical translation and commercialisation.

Varamini said mentors have played an important role throughout her research and leadership journey.

“The kind of mentorship I’ve needed has changed throughout my career. Early on, I needed mentors who could help me develop scientific rigour, confidence and independence. Later, as I established my own research group, I needed guidance on leadership, building teams and navigating complex academic systems. As a founder, I have needed people who understand commercialisation, investment, regulatory development and the realities of building a biotechnology company.”

“The most effective mentors were those who listened carefully, asked difficult questions, challenged my assumptions and helped me see options that I might not have recognised on my own. At the same time, they respected that the final decision, and responsibility, remained mine.”

The first initiative to launch under the broader University of Sydney and MLC partnership, the Venture Mentoring Program will target incorporated ventures emerging from, or supported by, the University, including those developed through on-campus entrepreneurship initiatives such as the Genesis start-up accelerator and the PERIscope Commercialisation Award.  

Managed by the University’s on-campus startup incubator, Sydney Knowledge Hub, the program will bring together teams of experienced mentors from the alumni community and industry networks to work with researchers and suitable students in a board-like structure to provide advice, expertise and support.

Varamini said the model reflects her own experience of mentorship.

“I have learned that one person cannot provide every kind of guidance. Effective mentorship is often an ecosystem: different mentors contribute scientific, clinical, commercial and leadership perspectives, as well as encouragement during inevitable difficult periods.”

It builds on the highly successful Venture Mentoring Service developed by the Massachusetts Institute of Technology (MIT), which connects entrepreneurs with teams of carefully selected mentors. Since launching internationally in 2006, it has worked with more than 130 organisations across 34 countries.  

Ashton Jones, MLC Director of Strategy & Innovation, and member of the University’s Alumni Council said, “Australia has no shortage of great ideas. The real challenge is turning those ideas into successful, sustainable ventures. For MLC, our partnership with the University of Sydney is about strengthening that pathway end‑to‑end - from research through to founders and into real-world impact. It’s a natural extension of MLC’s “Invested in Potential” philosophy, supporting people, ideas and capabilities that shape long-term outcomes for the economy and for Australia's retirement.”

The Venture Mentoring Program was announced by Pro-Vice-Chancellor (Research Enterprise) Professor Julie Cairney at Sydney Solutions. This year’s event profiled a range of Sydney-affiliated ventures, including women’s health company Aether Diagnostics and Redbelly Network, which is providing the infrastructure to distribute digital financial assets to global investors.

The University hosts a suite of entrepreneurship initiatives in support of promising research venture, many of them brokered through the Sydney Knowledge Hub. Through the Hub and the University's broader innovation and enterprise ecosystem, researchers and founders can access the networks, expertise and support needed to help move ideas beyond the lab, to create meaningful impact in the community. 

Jerome Smith, MIT Venture Mentoring Service (VMS) Co-Director, congratulated the University on adopting the program: 

“MIT VMS is happy to welcome the University of Sydney to the worldwide network of sister organisations who have adopted the MIT VMS Model. The University of Sydney will be operating under license from MIT.”  

For those interested in becoming a mentor, you can access the expression of interest form here.