Westpac Champions Women-Led Startups in Health and Climate Innovation
Right to left: Stephanie Allison-Logan – Sprout Materials | Tamara Bryden - Westpac | Ellen Gonda – GonGlobal
Westpac is making waves in the entrepreneurial world by championing women founders in health and sustainability. Through the Westpac Accelerator Scholarships, the bank has empowered three remarkable women to participate in the UNSW Founders 10x Accelerator Program —Anastasia Latin from Preview Health, Ellen Gonda from GonGlobal, and Stephanie Allison-Logan from Sprout Materials. These scholarships are design to alleviate the financial pressure of participating in the 10-week program, helping recipients manage personal expenses such as travel, childcare and lost income while they focus on growing their startups.
This initiative aligns with Westpac's broader $500 million commitment to advancing female entrepreneurship by addressing the structural and financial barriers women founders often face.
Empowering Change: The 2024 Scholarship Recipients
Each scholarship recipient, part of UNSW Founders' 10x Accelerator programs, showcases the power of innovation and leadership in action.
1. Anastasia Latin – Preview Health (Health 10x) | Sydney Preview Health, co-founded by Anastasia Latin, is breaking new ground in early Parkinson’s disease detection with its AI-enabled, non-invasive screening tool. Addressing a misdiagnosis issue costing Australia $16 billion annually, their technology has the potential to transform the diagnostic landscape and improve patient outcomes.
2. Ellen Gonda – GonGlobal (Health 10x) | Melbourne Leading the way in reimagining the IVF process, Ellen Gonda’s GonGlobal has developed a painless, needle-free drug delivery system, reducing the physical and emotional toll on patients. Their groundbreaking device is set to impact not only fertility treatments but future therapies in areas like prostate cancer and endometriosis.
3. Stephanie Allison-Logan – Sprout Materials (Climate 10x) | Adelaide Sprout Materials, under the guidance of co-founder Stephanie Allison-Logan, is tackling the global challenge of plastic waste with compostable plastic alternatives. By offering sustainable solutions like compostable packaging foams, the startup aims to lead the shift towards renewable, eco-friendly materials.
Why Westpac’s Support Matters
In 2023, Westpac introduced initiatives to support small businesses and address the financial challenges women often face in entrepreneurship. Research reveals that 29% [1] of women reports greater difficulty in securing funding compared to 21% of men, highlighting a persistent gap in financial access. Westpac’s Accelerator Scholarships provide financial support for founders participating in UNSW Founders’ 10X Accelerator program. These scholarships help recipients focus on innovation, attend pivotal industry events, and scale their solutions by alleviating the costs associated with the program.
Tamara Bryden, Managing Director of Business Lending at Westpac, expressed her excitement on LinkedIn: "If you need inspiration, look no further. It was my absolute honour last week to announce the three inaugural winners of $20K Westpac female founders scholarships at the UNSW Founders 10x Accelerator Demo Day. Take note of these three incredible women—they're going to change the world."
What’s Next for These Startups?
2025 promises to be a year of major milestones. Preview Health aims to launch its Parkinson’s test in Australia, GonGlobal will embark on clinical trials for their revolutionary drug delivery system, and Sprout Materials will push forward with the release of their compostable products. With Westpac’s backing for their founders, these startups are positioned for significant impact, both locally and globally.
In Their Words:
“Westpac’s support is a game-changer for Preview Health. With their backing, we can focus entirely on scaling our technology to transform patient lives.” – Anastasia Latin, Preview Health
“The scholarship allows us to fully dedicate ourselves to improving the IVF experience. Westpac’s belief in our vision is invaluable.” – Ellen Gonda, GonGlobal
“Westpac's support enables me to devote myself to growing Sprout Materials and fulfilling our mission for a sustainable planet.” – Stephanie Allison-Logan, Sprout Materials
For more details, visit UNSW Founders or the Westpac Female Founders page.
Westpac’s $15K Contribution to New Wave Pitch Competition
Beyond the 10x Accelerator Scholarships, Westpac also reinforced its commitment to nurturing women entrepreneurs by donating $15,000 to UNSW Founders’ New Wave Pitch competition. This contribution supported the first-place prizes across Cohort 13 and Cohort 14, spotlighting promising startups poised to create positive social and environmental impact.
Cohort 13 Winner: Thriva ($7,500 First Prize)
Founded by Morgan Heida and supported by team members Lucia (Shu) Li, Hea Singh, and Damla Hatipoglu, Thriva empowers survivors through fitness and community. With this funding, Thriva is set to transition to its next stage, continuing its mission to help survivors transform their lives.
Morgan Heida shared, “I am deeply humbled that individuals, universities, and banks care about this issue which holds significant personal importance to me.”
Left to right: Tamara Bryden - Westpac | Morgan Heida & Lucia (Shu) Li G -Team Thriva
Cohort 14 Winner: Seals - Feel Good Seal Good ($7,500 First Prize)
Seals, founded by Kate Parsons and supported by Tam Nguyen, Lillian Ott & Michaela Murphy, impressed with their sustainable earplugs. Their mission to protect hearing while supporting marine restoration and combating plastic pollution resonated strongly with the judges.
Left to right: Rachael McKenzie, Executive Manager, Life Operations & Customer Experience, Westpac | Kate Parsons and supported by Tam Nguyen, Lillian Ott & Michaela Murphy, team Seals
Philanthropic and Private Investment: Boosting Non-Dilutive Funding
The role of philanthropic and corporate partners in non-dilutive funding cannot be overstated. Such funding sources provide startups with the critical resources they need without the founders having to give up equity, allowing them to maintain control and ownership while advancing their missions. With the level of venture capital funding allocated to women-founded and led businesses having halved since 2020 to just 3%[2], non-dilutive funding has become especially impactful for early-stage, women-led startups
Programs like UNSW Founders’ 10x Accelerator and the New Wave Pitch competition thrive due to the strategic support of philanthropic contributions and corporate partners. These non-dilutive funds fuel innovation by enabling startups to focus on product development, market-entry, and scaling operations without the immediate pressure of equity dilution.
The commitment to nurturing a robust entrepreneurial ecosystem through non-dilutive funding ensures that innovative ideas, especially those women-led, have the runway they need to succeed and make meaningful contributions to health, sustainability, and technology.
Driving Impact Through UNSW Programs
Both the 10x Accelerator and the New Wave Pitch competition have solidified their positions as launchpads for pioneering, women-led startups at UNSW. Companies like Preview Health, GonGlobal, Sprout Materials, Thriva, and Seals are prime examples of innovation and leadership propelled by targeted program support and strategic partnerships.
Join Us in Empowering Future Innovators
Your support can help sustain and expand these impactful programs, ensuring that more women-led startups have the opportunity to grow, innovate, and make a difference. Contributing makes you part of a community that fuels entrepreneurship, nurtures talent, and fosters groundbreaking solutions for a better world.
Donate and Make a Difference – Your generosity helps empower the next generation of changemakers and keeps the spirit of innovation alive at UNSW.
Ready to Join Their Ranks?
Are you ready to be part of the next wave of impactful, women-led startups? Apply for the New Wave program today and take your startup from idea to reality with the support of UNSW Founders and partners like Westpac.
Interested in taking your startup even further? Expressions of Interest (EOIs) for the prestigious 10x Accelerator are now open! Join the ranks of impactful startups like Forage, recently acquired by EAB, and Forcite, now part of tech giant GoPro. These alumni leveraged the power of the 10x Accelerator to scale their innovations and achieve remarkable exits.
With over 130 startups backed and a collective portfolio valued at $750 million, 10x is your launchpad for success. If you’re ready to make your mark in Health, Biotech, Defence, Climate, or other industries, this is your opportunity. Don’t miss your chance—submit your EOI now and prepare to elevate your startup to the next level in 2025.
[1] Research conducted by Lonergan Research in October 2023. It was an online survey conducted among a representative sample of over 500 Australian SME Business Leaders.
[2] https://www.forbes.com.au/covers/investing/meet-australias-female-vc-leaders-changing-gender-gap